Economic profit cannot exist under perfect competition.
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Q222: A perfectly competitive industry's market supply curve
Q223: The firm will continue to produce in
Q224: A perfectly competitive industry characterized by increasing
Q225: Total economic profit is (price minus average
Q226: The profit-maximizing level of output for a
Q228: A perfectly competitive firm will shut down
Q229: If some firms in a perfectly competitive
Q230: A perfectly competitive firm will stay in
Q231: Profit for the firm is maximized when
Q232: An increase in demand in a perfectly
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