Competitive firms can earn an economic profit in the long run.
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Q117: In perfect competition,the market demand curve for
Q118: Figure 6.2: Q119: Market structure is determined by the asset Q120: A perfectly competitive firm has some competitors Q121: Short-run profits are maximized if the firm Q123: In a competitive market if a firm Q124: There are high barriers to entry in Q125: In a competitive market,firms are price takers Q126: Competitive firms will adjust the quantity supplied Q127: When economic losses exist in a perfectly
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