hen the firms in a perfectly competitive market are incurring economic losses, some of the 14) ms will exit the market, causing the supply curve to shift left and market price to rise until sses incurred by the remaining firms are eliminated. CHOICE. Choose the one alternative that best completes the statement or answers the question. ssume the four major grocery stores in a large metropolitan area decide to meet secretly to x 15) ices for meat. It would be easiest to maintain this arrangement when: A) the number of additional competitors is very small. B) individual rms are able to offer secret price discounts to selected buyers. C) the cost conditions for the four rms differ substantially. D) demand for meat and fresh vegetables is falling