In perfect competition,technological advances will allow economic profits for
A)all firms.
B)only the firm developing the new technology.
C)early adopters.
D)none of the firms,as the advance will be immediately adopted by all of them.

Question

Quizplus · Accepted Answer

In perfect competition, early adopters of new technology can temporarily earn economic profits before the technology becomes widespread and profits normalize.

In Perfect Competition,technological Advances Will Allow Economic Profits for