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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.6
When a firm is earning a profit in the short run, what is the likely response from other firms in the industry?
Other firms will exit the industry.
Other firms will reduce production levels.
Other firms will decrease prices.
Other firms will enter the industry.
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AP Microeconomics - 3.6 Firms' Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
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Profit
Firm
Industry
Short Run
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
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Crisis Text Line
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© 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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