A market with constant costs is in long - run equilibrium when it experiences a

Question

A market with constant costs is in long - run equilibrium when it experiences a permanent decrease in demand In the short run. firms in the market In the long run, some firms the market supply and the market price Market output and in the Iong run each remaining firm makes profit. incur an economic loss; exit, deceases, rises until it reaches the firms' minimum average total cost, decreases; zero economic make zero economic profit; enter, increases; falls; increases; an economic make an economic profit; enter; increases; falls; increases; economic profit incur an economic loss; exit, deceases; rises until it reaches the firms' minimum average total cost; decreases; an economic make zero economic profit; exit; decreases; rises until it reaches the firms' minimum average variable cost; decreases, an economic

Explanation / Answer

A.

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