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If price is less than average cost under pure competition, ____ firms will exit the industry, supply will ____, and price will be driven ____.
- If price is less than average cost under pure competition, ____ firms will exit the industry, supply will ____, and price will be driven ____.
A.more; decrease; down.
B.more; decrease; up.
C.more; increase; down.
D.fewer; increase; up.
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International Business
Authors: John Daniels, Lee Radebaugh, Daniel Sullivan
15th edition
133457230, 978-0133457230
