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A) If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
A) If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right. 57. Which of the following statements concerning a monopolistically competitive industry is correct? A) If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right. B) If there are short-run economic profits, firms will enter the industry and the demand curves of existing firms will shift to the right. C) If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the left. D) If there are short-run economic profits, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
