25. Understand when firms in a perfectly competitive market will enter or exit an industry. Firms will an industry when there is a a. b. Firms will an industry when there is a Because of this, in the long run all perfectively competitive firms will have a profit. C.
25. Understand when firms in a perfectly competitive market will enter or exit an industry. Firms will an industry when there is a a. b. Firms will an industry when there is a Because of this, in the long run all perfectively competitive firms will have a profit. C.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 33CTQ: Since a perfectly competitive firm can sell as much as it wishes at the market price, why can the...
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![25. Understand when firms in a perfectly competitive market will enter or exit an industry.
a.
Firms will
an industry when there is a
b. Firms will
an industry when there is a
profit.
С.
Because of this, in the long run all perfectively competitive firms will have a](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb1bac095-f596-4e03-ba80-5134580049fe%2F91d882df-0b3e-4341-8f32-36d3bb84ccb2%2Fccqw6a7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:25. Understand when firms in a perfectly competitive market will enter or exit an industry.
a.
Firms will
an industry when there is a
b. Firms will
an industry when there is a
profit.
С.
Because of this, in the long run all perfectively competitive firms will have a
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