If perfect competitors are losing money in the short run,then in the long run there will be _____ firms in the industry and market price will _____.

A) fewer;rise
B) fewer;fall
C) more;rise
D) more;fall

Perfect Competitors

Market participants in a perfectly competitive market where no single buyer or seller has the power to influence prices.

Short Run

A period in economics during which some factors of production or inputs are fixed in quantity and cannot be changed.

Industry

A distinct group of productive or service businesses that share similar characteristics, processes, or goods.