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Home Q & A Board Other Fields Homework Help Business Economics
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Mandolina Mandolina
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6 years ago
If the firms in a purely competitive industry are incurring losses in the short run,
A) additional firms will tend to enter the industry until those losses are eliminated.
B) the industry demand curve will shift left until those losses are eliminated.
C) firms will raise the price of their product to eliminate the losses.
D) firms will leave the industry, shifting the supply curve to the left and raising the market price.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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VilaVila
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6 years ago
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Mandolina Author
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#2
6 years ago
Makes a ton of sense now Smiling Face with Open Mouth
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