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The Figure Given Below Shows the Aggregate Demand and Supply

Question 70

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The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7 -If losses are incurred in a competitive industry, then over the long-run we can expect a greater quantity supplied, because market price will rise.
-If losses are incurred in a competitive industry, then over the long-run we can expect a greater quantity supplied, because market price will rise.

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