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Firm A is currently in long-run perfectly-competitive equilbrium. The demand for Firm A's good falls. What can we expect to happen to market quantity supplied,
Firm A is currently in long-run perfectly-competitive equilbrium. The demand for Firm A's good falls. What can we expect to happen to market quantity supplied, price, and the number of firms in the industry after all long-run adjustments have taken place?
Answer Options: | Quantity Supplied: | # of Firms: | Price: |
A | Increase | Increase | Increase |
B | Decrease | Decrease | No Change |
C | Decrease | Increase | No Change |
D | Increase | No Change | Increase |
E | No Change | Increase | No Change |
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