A market is in long-run equilibrium and firms in this market have identical cost structures. Suppose demand

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A market is in long-run equilibrium and firms in this market have identical cost structures. Suppose demand in this market decreases. Describe what happens to the profit-maximizing output quantity for individual firms as the market leaves and then returns to long-run equilibrium.
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Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

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