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In a Perfectly Competitive Market That Is in Long-Run Equilibrium

Question 29

Multiple Choice

In a perfectly competitive market that is in long-run equilibrium, a rightward shift in the market demand curve results in


A) the price falling in the short run.
B) the firms' economic profits falling in the short run.
C) firms leaving the industry in the long run.
D) none of the events listed above.

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