6 Suppose A Competitive Market Is In Long Run Equilibrium How Does The Number Of Fir 3446474

6. Suppose a competitive market is in long-run equilibrium. How does the number of firms change if (i) Each firm’s fixed costs decreases? Explain (ii) Each firm’s marginal cost decreases? Explain (i) Demand decreases: for each price, consumers demand half of the amount as before? Explain