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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 18
Suppose that in a perfectly competitive market, firms are making economic profits. In the long run, we can expect to see
A) some firms leave.
B) the market price rise.
C) market supply shift to the left.
D) economic profits become zero.
E) production levels remaining the same as in the short run.
A) some firms leave.
B) the market price rise.
C) market supply shift to the left.
D) economic profits become zero.
E) production levels remaining the same as in the short run.
Explanation
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In a case where firms are making economi...
Economics for Today 9th Edition by Irvin Tucker
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