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in the long run we would expect firms to ( enter / exit / neither enter not exit ) the markwt and the equilibrium price
in the long run we would expect firms to ( enter / exit / neither enter not exit ) the markwt and the equilibrium price to ( rise / remain the same / fall )
Consider the diagram above. The panel on the left illustrates the short-run equilibrium in a perfectly competitive market. The panel on the right show the marginal and average cost curves for a typical firm in the market. In the long-run we would expect firms to the market, and the equilibrium price to Step by Step Solution
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