firms enter a purely competitive industry, then in the long run this change will shift the industry: Multiple Choice demand curve to the left, and the market price will decrease. supply curve to the right, and the market price will decrease. demand curve to the right, and the market price will increase. supply curve to the left, and the market price will increase.
firms enter a purely competitive industry, then in the long run this change will shift the industry: Multiple Choice demand curve to the left, and the market price will decrease. supply curve to the right, and the market price will decrease. demand curve to the right, and the market price will increase. supply curve to the left, and the market price will increase.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section8.5: Long-run Supply Curves Under Perfect Competition
Problem 1YTE
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Transcribed Image Text:If firms enter a purely competitive industry, then in the long run this change will shift the industry:
Multiple Choice
demand curve to the left, and the market price will decrease.
supply curve to the right, and the market price will decrease.
demand curve to the right, and the market price will increase.
supply curve to the left, and the market price will increase.
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