O Price(AR)QUESTION 26Why oligopoly firm earns abnormal profit in the long run, while a competitive firm earns normal profit only?For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).В IA vParagraphArial10ptx X2田田田图ABCTave and Submit to save and submit. Click Save All Answers to save all answers.DELLEx田田

There are two types of firms in a market: Perfectly competitive firm Imperfect competitive firm In…

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Vhy oligopoly firm earns abnormal profit in the long run, while a competitive firm earns normal profit only?

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter23: Managing Vertical Relationships

Section: Chapter Questions

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