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-Suppose the Cost Curves in the Above Figure Apply to All

Question 220

Multiple Choice

-Suppose the cost curves in the above figure apply to all firms in the market. If the initial price is P<sub>1</sub>, firms are ________ and some firms will ________ the industry. A) making an economic profit; leave B) making an economic profit; enter C) incurring an economic loss; leave D) incurring an economic loss; enter
-Suppose the cost curves in the above figure apply to all firms in the market. If the initial price is P1, firms are ________ and some firms will ________ the industry.


A) making an economic profit; leave
B) making an economic profit; enter
C) incurring an economic loss; leave
D) incurring an economic loss; enter

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