The entry and exit of firms occurs in the long run.

Name: The entry and exit of firms occurs in the long run.
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

In the long run, firms have the opportunity to enter or exit the market depending on the profitability of the industry. This is because in the long run, all inputs are variable, meaning firms can adjust their production and cost structures to compete in the market.

The Entry and Exit of Firms Occurs in the Long