Multiple Choice
Use the figure below to answer the following questions.
Figure 12.4.2
-Refer to Figure 12.4.2, which shows the cost curves and marginal revenue curve of a firm in a perfectly competitive market. In the long run,
A) firms that remain in the market will expand production.
B) market demand will increase.
C) market supply will decrease.
D) firms will exit the market.
E) firms that remain in the market will decrease production.
Correct Answer:
Verified
Correct Answer:
Verified
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