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Which of the following best describes what happens in the long run when a firm anticipates that the price of their good will always be
Which of the following best describes what happens in the long run when a firm anticipates that the price of their good will always be less than average total cost (ATC)? Choose 1 answer: Choose 1 answer: (Choice A) The firm will enter the industry A The firm will enter the industry (Choice B) The firm will exit the industry. B The firm will exit the industry. (Choice C) The firm will produce as long as price is greater than average variable cost. C The firm will produce as long as price is greater than average variable cost. (Choice D) The firm will shut down. D The firm will shut down. (Choice E) The firm will produce as long as price is less than average variable cost. E The firm will produce as long as price is less than average variable cost
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