Answered: If every comptitive firm earns abnormal…

Business

Economics

If every comptitive firm earns abnormal profits in the short run, what do you expect will happen in the long run? why?

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 4.7P

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