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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 31
Suppose that firms in an industry have identical cost structures and the industry is in long-run equilibrium. Explain how the profit motive could lead to lower market prices.
Explanation
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Long run:
Long run refers to the time p...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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