When firms have an incentive to exit a competitive price-taker market, their exit will
a. lower market price.
b. necessarily raise the costs of firms that remain in the market.
c. raise profits for firms that remain in the market.
d. reduce demand for the product.
C
Economics
You might also like to view...
One of the most widely reported measures of inflation is the: a. consumer price index. b. producer price index. c. GDP deflator
d. Gini coefficient. e. real interest rate.
Economics
Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level?
a. efficiency wages b. job search c. minimum-wage laws d. unions
Economics