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In the long run when a perfectly competitive firm experiences negative economic profits

• firms exit the industry, the market supply curve shifts leftward, and the market price rises.

• firms enter the industry, the market supply curve shifts rightward, and the market price falls.

• firms enter the industry, the market supply curve shifts rightward, and the market price rises.

• firms exit the industry, the market supply curve shifts rightward, and the market price falls.
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Economics Today: The Micro View
Edition: 19th
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firms exit the industry, the market supply curve shifts leftward, and the market price rises.
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