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If a purely competitive constant-cost industry is realizing economic losses, we can expect industry supply to Multiple Choice increase, output to rise, price to fall, and profits to rise. decrease, output to fall, price to fall, and profits to rise. decrease, output to rise, price to rise, and profits to rise. О decrease, output to fall, price to rise, and profits to rise.

If a purely competitive constant-cost industry is realizing economic losses, we can expect industry supply to Multiple Choice increase, output to rise, price to fall, and profits to rise. decrease, output to fall, price to fall, and profits to rise. decrease, output to rise, price to rise, and profits to rise. О decrease, output to fall, price to rise, and profits to rise.

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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If a purely competitive constant-cost industry is realizing economic losses, we can expect industry supply to Multiple Choice increase, output to rise, price to fall, and profits to rise. decrease, output to fall, price to fall, and profits to rise. decrease, output to rise, price to rise, and profits to rise. decrease, output to fall, price to rise, and profits to rise. x
Transcribed Image Text:If a purely competitive constant-cost industry is realizing economic losses, we can expect industry supply to Multiple Choice increase, output to rise, price to fall, and profits to rise. decrease, output to fall, price to fall, and profits to rise. decrease, output to rise, price to rise, and profits to rise. decrease, output to fall, price to rise, and profits to rise. x
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