Answer Happy

Which of the following is a correct sequence of events? * O In pure and perfect competition, if firms are incurring losses, they will continue operating in the short run, but will exit the industry in the long run In pure monopoly, if a firm is earning positive profits, new firms will enter the market shifting the supply until all economic profits are eliminated In pure and perfect competition, if firms are incurring losses, they will shut down in the short run and exit the industry in the long run In pure and perfect competition, if firms are earning positive profits, new firms will enter the market shifting the market supply to the right until all economic profits are eliminated