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5 Dec 2017
69) Suppose the market price in this industry is P3. Eventually, if entry and exit are free, then in long run equilibrium: A) the number of firms will rise and each will produce Q3- B) the number of firms will fall and each will produce Q3. C) the number of firms will fall and each will produce Q4- D) the number of firms will rise and each will produce Q4 E) the number of firms will fall and each will produce Qs.
69) Suppose the market price in this industry is P3. Eventually, if entry and exit are free, then in long run equilibrium: A) the number of firms will rise and each will produce Q3- B) the number of firms will fall and each will produce Q3. C) the number of firms will fall and each will produce Q4- D) the number of firms will rise and each will produce Q4 E) the number of firms will fall and each will produce Qs.
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