The graph shows a perfectly competitive market that was in a long-run equilibrium on demand curve Do, Due to a permanent change in demand to D, the price in the market will causing existing firms to which means that the market. O A. increase; earn a smaller economic profit; new firms will enter O B. decrease; earn a larger economic profit; new firms will enter OC. decrease; incur an economic loss; some firms will exit D. increase; earn a larger economic profit; some firms will exit O E. decrease; earn a smaller economic profit; new firms will enter

The graph shows a perfectly competitive market that was in a long-run equilibrium on demand curve Do, Due to a permanent change in demand to D, the price in the market will causing existing firms to which means that the market. O A. increase; earn a smaller economic profit; new firms will enter O B. decrease; earn a larger economic profit; new firms will enter OC. decrease; incur an economic loss; some firms will exit D. increase; earn a larger economic profit; some firms will exit O E. decrease; earn a smaller economic profit; new firms will enter

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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