If a typical firm in a perfectly competitive industry is incurring losses. then

0/10 points Question 45 If a typical firm in a perfectly competitive industry is incurring losses, then some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. - B) C) all firms will continue to lose money l some firms will exit in the long run, causing market supply to decrease and market price D) to rise increasing profits for the remaining firms. 0/10 points Question 45 If a typical firm in a perfectly competitive industry is incurring losses, then some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. - B) C) all firms will continue to lose money l some firms will exit in the long run, causing market supply to decrease and market price D) to rise increasing profits for the remaining firms. 0/10 points Question 45 If a typical firm in a perfectly competitive industry is incurring losses, then some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. – B) C) all firms will continue to lose money l some firms will exit in the long run, causing market supply to decrease and market price D) to rise increasing profits for the remaining firms.

45. The answer to the question is option D). If a typical firm
incurs a loss some firms will exit in the long run, which will
cause market supply to decrease and market price to rise that will
increase profits for remaining firms.
47. The answer to the question is option C). Q3 will be the
optimal level of output as at that point MC equals MR and
AR(demand). At this point the firm will have no incentive to
move.

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