Business, 21.11.2019 04:31 amandapill

If a typical firm in a perfectly competitive industry is incurring losses, then o some firms will exit in the long run, causing market supply to decrease an d market price to rise increasing profits for the remaining firms o all firms will continue to lose money o some firm s will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. some firms wi firms. ll exit in the long run, causing market supply to decrease and market price to all increasing losses for the remaining question 18 if a typical monopolistically competitive firm is making short-run losses, then o the industry will eventually cease to exist o as some firms leave, the remaining firms ill experience an increase in the demand for their products he demand for the products of the remaining firms will become more elastic o other more competitive firms will enter the market.

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