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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.6
In the long run, if a firm is earning a loss, what is the likely outcome for that industry?
Firms will enter the industry.
Firms will decrease prices.
Firms will increase production levels.
Firms will exit the industry.
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AP Microeconomics - 3.6 Firms' Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
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Long Run
Earning a loss
Firm
Industry
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About Fiveable
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Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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