ECON MICRO (with ECON MICRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
ECON MICRO (with ECON MICRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
5th Edition
ISBN: 9781305631946
Author: William A. McEachern
Publisher: Cengage Learning
Question
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Chapter 8, Problem 5.9P
To determine

The reasons for firms choosing to operate in a perfectly competitive market despite of no economic profits in the long run.

Why firms choose to operate in perfect competition even though they earn no economic profits in the long run.

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