Microeconomics
Microeconomics
13th Edition
ISBN: 9781337617406
Author: Roger A. Arnold
Publisher: Cengage Learning
Question
Chapter 9.3, Problem 1ST
To determine

Effect of earning high profits in the perfect competitive market.

Blurred answer
Students have asked these similar questions
In a long-run equilibrium in a perfectly competitive market, firms earn positive economic profits.   Is this true?
How a firm respond to economy profits and economy losses in perfectly competitive market?
What is meant by a competitive firm? Explain the difference between a firm’s revenue and its profit. Which do firms maximize?
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