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Home Q & A Board Other Fields Homework Help Business Economics
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bananas87 bananas87
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6 months ago

A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand increases. As a result, existing firms in the market begin to __________. By the time all adjustments have been made, profits will __________.



▸

earn positive economic profit, rise even higher



▸

earn positive economic profit; be back at zero



▸

produce more output; be less than zero



▸

produce less output; rise



▸

earn positive economic profit; turn into losses

Textbook 
Economics

Economics


Edition: 12th
Author:
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jp50jp50
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6 months ago
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bananas87 Author
wrote...

6 months ago
Thank you, thank you, thank you!
sleinhi
wrote...

Yesterday
Good timing, thanks!
larrybrads
wrote...

2 hours ago
Smart ... Thanks!
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