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If a typical firm in a perfectly competitive industry is incurring losses, then

User Brickpop
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Answer: The correct answer is that some firms will leave the market.

Explanation: If a typical firm in a perfectly competitive industry is incurring losses, then some of the suppliers are going to leave the market. This is going to cause market supply of the item to decrease, which will in turn drive the cost up. This resulting price increase will cause an increase in profits for the remaining suppliers.

User Stroboskop
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