An In the News article discusses "T-Shirt Shop Owner's Lament: Too Many T-Shirt Shops." If T-shirt shops are perfectly competitive firms, then

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If T-shirt shops are perfectly competitive firms, then the barriers to entry are low, meaning that new firms can easily enter the market and compete with existing firms. This suggests that there may be many T-shirt shops in the industry, leading to a situation where some shop owners feel that there are too many shops. In the long run, perfectly competitive firms will earn zero economic profit, which means that shops cannot definitely earn an economic profit. Each shop also does not have market power in a perfectly competitive market.

An in the News Article Discusses "T-Shirt Shop Owner's Lament