If the market starts in equilibrium at point C in panel (b), a
decrease in demand will ultimately lead to:

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Question: If the market starts in equilibrium at point C in panel (b), a decrease in demand will ultimately…
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Question: If the market starts in equilibrium at point C in panel (b), adecrease in demand will ultimately...

a. more firms in the industry but lower levels of output
for each firm.
b. fewer firms in the market.
c. a
new long-run equilibrium at point D in panel (b).
d. lower prices once the new long-run equilibrium is
reached.

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