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sinerus sinerus
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6 years ago
Suppose that a monopolistically competitive market is in its long-run equilibrium. If the market demand curve shifts to the left due to a recession,
A) the number of firms in the market decreases in the short-run.
B) firms' average costs of production decreases as they decrease output levels in the short-run.
C) some firms may earn negative profits in the short-run.
D) none of the above
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
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Lightman030Lightman030
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