A generic firm can make all the following changes in the long run except Select one: a. Leave an industry in response to losses b. Decrease its plant in response to profits c. Decrease its plant in response to losses d. Enter an industry in response to (expected) profits

A generic firm can make all the following changes in the long run except Select one: a. Leave an industry in response to losses b. Decrease its plant in response to profits c. Decrease its plant in response to losses d. Enter an industry in response to (expected) profits

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 5E

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A generic firm can make all the following changes in the long run except
Select one:
O
O
a. Leave an industry in response to losses
b. Decrease its plant in response to profits
c. Decrease its plant in response to losses
d. Enter an industry in response to (expected) profits

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