multiple choice firms in perfect competitions will leave the industry if they: 1- suffer short-run losses 2- suffer losses, even if they are covering variable costs in the short run 3- suffer long-run losses 4-earn a normal profit  5- earn a zero economic profit

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition
Section: Chapter Questions
Problem 7E
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multiple choice

firms in perfect competitions will leave the industry if they:

1- suffer short-run losses

2- suffer losses, even if they are covering variable costs in the short run

3- suffer long-run losses

4-earn a normal profit 

5- earn a zero economic profit

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