Question 45 If a typical firm in a perfectly competitive industry is incurring losses, then______________ 0/10...

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Question 45 If a typical firm in a perfectly competitive industry is incurring losses, then______________ 0/10 points A) some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. B) some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. C) all firms will continue to lose money. D) some firms will exit in the long run, causing market supply to decrease and market price to rise increasing profits for the remaining firms. Question 47 Figure 5. Price and cost (dollars per pound) A) Q1 B) Q2 P3 C) Q3 నా P₁ 0 Q₁ Q2 Q3 MC ATC AVC Refer to Figure 5. What is the optimal level of production (output)? D=MR Quantity (thousands of pounds) 0 / 10 points Question 45 If a typical firm in a perfectly competitive industry is incurring losses, then______________ 0/10 points A) some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. B) some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. C) all firms will continue to lose money. D) some firms will exit in the long run, causing market supply to decrease and market price to rise increasing profits for the remaining firms. Question 47 Figure 5. Price and cost (dollars per pound) A) Q1 B) Q2 P3 C) Q3 నా P₁ 0 Q₁ Q2 Q3 MC ATC AVC Refer to Figure 5. What is the optimal level of production (output)? D=MR Quantity (thousands of pounds) 0 / 10 points