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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.6
In a perfectly competitive market, what happens to the price when firms exit the market?
The price increases.
The price remains unchanged.
The price decreases.
The price becomes unpredictable.
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AP Microeconomics - 3.6 Firms' Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
Key terms
Perfectly Competitive Market
Firms exit the market
Price
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About Us
About Fiveable
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Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
Report an Issue
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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