If companies earn economic profits in a perfectly competitive market, over the long run the supply curve
Question:
If companies earn economic profits in a perfectly competitive market, over the long run the supply curve will most likely:
A. shift to the left.
B. shift to the right.
C. remain unchanged.
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Answer C remain unchanged In a perfectly competitive market economic profits act as a signal for fir...View the full answer
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Related Book For
Economics For Investment Decision Makers
ISBN: 9781118111963
1st Edition
Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto
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