In the long run,when there are economic profits,firms enter the industry,which will increase the market supply and increase the price until economic profits are zero.

Name: In the long run,when there are economic profits,firms enter the industry,which will increase the market supply and increase the price until economic profits are zero.
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Question

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When firms enter the industry due to economic profits, the increased market supply will actually decrease the price until economic profits are zero, not increase it.

In the Long Run,when There Are Economic Profits,firms Enter the Industry,which