Which of the following is true about firms exiting a perfectly competitive market? Select the correct answer below: O The price where firms exit the market shows the price where the firm would lack enough revenue to cover its variable costs. Firms are only concerned with what quantity to produce and will exit otherwise, even if they are not experiencing losses. O Exiting the market occurs in response to a sustained pattern of losses. O Exiting the market occurs in response to increased industry profits.

Which of the following is true about firms exiting a perfectly competitive market? Select the correct answer below: O The price where firms exit the market shows the price where the firm would lack enough revenue to cover its variable costs. Firms are only concerned with what quantity to produce and will exit otherwise, even if they are not experiencing losses. O Exiting the market occurs in response to a sustained pattern of losses. O Exiting the market occurs in response to increased industry profits.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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