Andy's Online Poker Room is a profit-maximizing firm in a competitive market.
a. Draw a graph of Andy's firm next to a graph for the market, assuming the market is in long-run equilibrium.
b. Now assume the demand for online poker increases. Redraw a graph of Andy's firm next to a graph for the market.
c. What do you expect to happen in the long run?
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b. c. In the long run, other firms ...View Answer
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