Business, 19.07.2021 16:40 freddhendrickss

Assume a purely competitive, increasing-cost industry is in long-run equilibrium. If a decline in demand occurs, firms will: Group of answer choices enter the industry and price and quantity will both increase. leave the industry, price will decrease, and quantity produced will increase. leave the industry and price and output will both increase. leave the industry and price and output will both decline. PreviousNext

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Assume a purely competitive, increasing-cost industry is in long-run equilibrium. If a decline in de...