If firms are taking economic losses in the short run,then in the long run,firms will leave the industry,industry output will _,and economic losses will _.

A) fall;decrease
B) rise;decrease
C) rise;increase
D) fall;increase

Question

If firms are taking economic losses in the short run,then in the long run,firms will leave the industry,industry output will _____,and economic losses will _____.

A) fall;decrease
B) rise;decrease
C) rise;increase
D) fall;increase

meliah kgaladi · Accepted Answer

Final Answer : A, Explanation :  In the long run, firms will leave the industry which means there will be a decrease in the number of firms producing in the market. As a result, the industry output will fall and the economic losses will decrease.

If firms are taking economic losses in the short run,then in the long run,firms will leave the industry,industry output will _,and economic losses will _.

A) fall;decrease
B) rise;decrease
C) rise;increase
D) fall;increase

Definitions

Learning Objectives

Learning Objectives

Related questions

If firms are taking economic losses in the short run,then in the long run,firms will leave the industry,industry output will _____,and economic losses will _____.A) fall;decreaseB) rise;decreaseC) rise;increaseD) fall;increase

Definitions

Learning Objectives

Learning Objectives

Related questions

If firms are taking economic losses in the short run,then in the long run,firms will leave the industry,industry output will _,and economic losses will _.

A) fall;decrease
B) rise;decrease
C) rise;increase
D) fall;increase