Question

In the __________, a firm in a perfectly competitive industry may be willing to produce even if they are losing money. in the __________, a firm will shut down if they are losing money. Option 1: short run, long run Option 2: long run, short run Option 3: perfectly competitive market, monopolistic market Option 4: monopolistic market, perfectly competitive market

Answer 1

short run; long run

Step-by-step explanation:

In the short run, a firm in a perfectly competitive industry may be willing to produce even if they are losing money, while in the long run, a firm will shut down if they are losing money.