In the long run, an industry can expand when existing firms expand by investing in new capital.
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Q63: If market demand decreases in a market
Q64: Suppose that a competitive market is initially
Q65: Industry expansion cannot occur without firms entering
Q66: When firms leave an industry,
A)it is due
Q67: Firms leave a competitive industry in the
Q69: Which of the following is false?
A)As firms
Q70: When an industry is in decline,
A)it is
Q71: Which of the following statements is false?
A)Given
Q72: An increase in market price is likely
Q73: A competitive firm's long-run equilibrium exists where
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