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Economics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0078021800Economics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0078021800 Exercise 6
In a perfectly competitive industry, if firms are making profits ___________, which will result in zero profits in the long run; if there are losses in the short run, ___________, resulting in zero profits (and losses) in the long run.
Explanation
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Perfect competition is a market where th...
Economics 11th Edition by Stephen Slavin
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