you read in a business magazine that the computer firms are reaping high profits. with the theory of perfect competition in mind what do you expect to happen over time? Complete the following sentences to describe the long run adjustment.

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Q: In the long run, a perfectly competitive firm can

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Q: ou read in a business magazine that computer firms are reaping high profits. With the theory of…

A: (a)   Assume that the computer industry is perfectly competitive. Earning high profit which attracts…