For perfectly competitive firms, economic profit exists only in the short run. Why?

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Principles of Economics

ISBN: 978-1285064437

7th edition

Authors: Fred M. Gottheil

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Question Posted: Apr 21, 2015 09:35 AM

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For perfectly competitive firms, economic profit exists only in the short run. Why?

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Entry is free open and easy If firms make economic profit new firms enter increasing the quantities ...View the full answer

Principles of Economics

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