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As firms exit an industry, the industry supply curve shifts firms are earning. economic profits. a. leftward; rises; zero b. rightward; falls; negative Oc. leftward; falls; positive Od. rightward; rises; positive Oe. leftward; rises; positive and the equilibrium price. until long-run competitive equilibrium is established and the surviving

As firms exit an industry, the industry supply curve shifts firms are earning. economic profits. a. leftward; rises; zero b. rightward; falls; negative Oc. leftward; falls; positive Od. rightward; rises; positive Oe. leftward; rises; positive and the equilibrium price. until long-run competitive equilibrium is established and the surviving

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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As firms exit an industry, the industry supply curve shifts firms are earning. economic profits. a. leftward; rises; zero b. rightward; falls; negative Oc. leftward; falls; positive Od. rightward; rises; positive Oe. leftward; rises; positive and the equilibrium price. until long-run competitive equilibrium is established and the surviving
Transcribed Image Text:As firms exit an industry, the industry supply curve shifts firms are earning. economic profits. a. leftward; rises; zero b. rightward; falls; negative Oc. leftward; falls; positive Od. rightward; rises; positive Oe. leftward; rises; positive and the equilibrium price. until long-run competitive equilibrium is established and the surviving
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