Business, 26.10.2019 01:43 shelseamorrrow2411
In long-run equilibrium with trade, losses from import competition will force some firms to increasing demand for the remaining firms' output, which will then cause their demand curves to become , due to the increased variety of products from
a. lower prices; more inelastic; new firms entering the industry.
b. leave the industry; flatter; foreign firms.
c. lay off workers; more elastic; the research and development departments in firms.
d. raise prices; steeper; new firms entering the industry.
Answers: 1
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In long-run equilibrium with trade, losses from import competition will force some firms to increas...
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