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If a competitive firm cannot earn profit at any level of output during a given short-run period, then which of the foliowing is LEAST likely to occur? Select one: A. It will exit the industry in the long run. B. It will shut down in the short run and wait until the price increases sufficiently. x C. It will minimize its loss by decreasing output so that price exceeds marginal cost. D. It will operate at a loss in the short run..

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If a competitive firm cannot earn profit at any level of output during a given short-run period, then which of the foliowing is LEAST likely to occur? Select one: A. It will exit the industry in the long run. B. It will shut down in the short run and wait until the price increases sufficiently. x C. It will minimize its loss by decreasing output so that price exceeds marginal cost. D. It will operate at a loss in the short run.

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