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IrinaK [193]
3 years ago
9

Which sequence describes the long-run adjustment process in a competitive market when firms are experiencing short-run economic

losses?
a. some firms exit, industry supply decreases, market price falls.b. some firms exit, industry supply decreases, market price rises.c. market price rises, some firms exit, industry demand decreases, market price falls.d. market price falls, some firms exit, industry supply falls.
Business
1 answer:
dedylja [7]3 years ago
7 0

Answer:

b. some firms exit, industry supply decreases, market price rises.

Explanation:

A perfect competitive industry is characterised by many buyers and sellers of homogenous goods and services. There are no barriers to entry or exit of firms.

If firms are making economic loss is the short run, in the long run, firms leave the industry. This leads to a fall in supply and prices rise as a result. In the long run, firms in a competitive industry earn zero economic profit.

I hope my answer helps you

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In 2008, Betserai was a 10-year-old quintrillionaire living in Bulawayo, Zimbabwe. He was literally rolling in money. In fact, B
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Answer:

C. Rapid rises in price levels made the Zimbabwean dollar near worthless in terms of purchasing power.

Explanation:

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3 years ago
Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1,200 boxes of apples in
OLga [1]

Answer:

A

Explanation:

Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It is computed as the percentage change in quantity demanded—or supplied—divided by the percentage change in price.

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8 0
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harkovskaia [24]

Answer:

false

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8 0
3 years ago
1. If a business has assets of $ 5,600 and liabilities of $900, the owner's equity is *
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Answer:

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Explanation:

Because an asset takes money from your pocket and liability puts money in your pocket.

7 0
3 years ago
Read 2 more answers
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