A sudden decrease in the market demand in a competitive, Ask an Expert

Economics

A sudden decrease in the market demand in a competitive industry leads to

a. demand creating supply.

b. new firms being attracted to the industry.

c. losses in the short run and average profits in the long run.

d. above-average profits in the short run and average profits in the long run.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91274910

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