Question: Multiple Choice Question If profits exist in a perfectly competitive industry, profit-seeking entrepreneurs enter causing industry output to Blank______ and Blank______ market prices. As compared

Multiple Choice Question If profits exist in a perfectly competitive industry, profit-seeking entrepreneurs enter causing industry output to Blank______ and Blank______ market prices. As compared to a monopoly, perfectly competitive industry profits are Blank______. Multiple choice question. increase; higher; lower increase; lower; lower decrease; lower; lower increase; lower; higher decrease; higher; higher

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