In a perfectly competitive market, when the price is greater than the minimum average total cost for most firms, some firms will _______ the market until the price ______ to equal the minimum average total cost. exit; falls enter; falls exit; rises enter;rises

In a perfectly competitive market, when the price is greater than the minimum average total cost for most firms, some firms will _ the market until the price to equal the minimum average total cost. exit; falls enter; falls exit; rises enter;rises

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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