The number of firms in an industry is fixed in the short run.
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Q14: Industry's supply curves tend to be less
Q15: In a competitive constant-cost industry,all firms have
Q16: A perfectly competitive firm is one that
Q17: Only variable costs are relevant to a
Q18: In a competitive equilibrium,the industry's output is
Q20: A firm earns a positive economic profit
Q21: Which of the following is a good
Q22: In the short run
A) firms can enter
Q23: There is no reason for a competitive
Q24: A competitive firm will exit an industry
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