Suppose the firms in a perfectly competitive industry are earning positive economic profits.How will these positive profits affect the flow of resources into the industry? How will the equilibrium quantity and price change in the industry because of the profits?

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The Answer of Suppose the firms in a perfectly competitive industry are earning positive economic profits.How will these positive profits affect the flow of resources into the industry? How will the equilibrium quantity and price change in the industry because of the profits?

Suppose the Firms in a Perfectly Competitive Industry Are Earning