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Home Q & A Board Other Fields Homework Help Business Economics
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SHABBA027 SHABBA027
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A year ago

Suppose one firm in a perfectly competitive industry experiences an increase in its costs of production. Which of the following best describes the most likely long run adjustment to this situation?



▸

Eventually, all firms in the industry will also experience this same increase in costs.



▸

Eventually, the price of the product will increase, and consumers will pay for the increase in costs.



▸

The firm in question may suffer losses and exit the industry.



▸

none of the above

Textbook 
Economics

Economics


Edition: 12th
Author:
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PmochPmoch
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A year ago
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SHABBA027 Author
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A year ago
this is exactly what I needed
Roselalo
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Yesterday
Thank you, thank you, thank you!
missnoname
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2 hours ago
Brilliant ツ
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