in-a-perfectly-competitive-market-how-does-the-long-run-supply-curve-ensure-equi

Question

In a perfectly competitive market, how does the long-run supply curve ensure equilibrium?

Accepted Answer

Firms enter or exit to adjust supply to meet demand.

Answer

Firms produce at a loss to meet demand.

Answer

Firms ignore changes in demand.

Answer

Firms only produce at maximum capacity.