If there are short-run profits in a perfectly competitive industry,in the long run new firms will ____________ and the industry-wide price will _________.
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Q249: A firm is operating at peak efficiency
Q250: Q251: A firm will stay in business if Q252: Assuming a typical firm has some implicit Q253: The firm's short-run supply curve runs up Q255: Total profit is always maximized when _ Q256: The minimum point of the average total Q257: If a perfect competitor is losing money Q258: A firm will operate if _ is Q259: The lowest point on the firm's long-run
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