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If an industry is in long-run competitive equilibrium and experiences a decrease in demand, then as ...

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If an industry is in long-run competitive equilibrium and experiences a decrease in demand, then as ...

If an industry is in long-run competitive equilibrium and experiences a decrease in demand, then as a result the equilibrium price will __________, which will cause the representative firm's __________ curve to shift downward and some firms will __________ the industry.

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rise; marginal cost; enter

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fall; marginal cost; enter

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rise; marginal revenue; enter

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fall; demand; exit

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fall; marginal cost; exit

Textbook

Economics

Edition: 12^th

Author: Arnold

Read 32 times

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