9. If a firm is making abnormal profit in the short run, what will happen to these

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9. If a firm is making abnormal profit in the short run, what will happen to these profits in the long run assuming the conditions for a highly competitive market exist?

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Business Economics

ISBN: 388402

2nd Edition

Authors: Mark P. Taylor, Andrew Ashwin, N. Gregory Mankiw

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Question Posted: Nov 04, 2024 10:00 AM

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9. If a firm is making abnormal profit in the short run, what will happen to these profits in the long run assuming the conditions for a highly competitive market exist?
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9. If a firm is making abnormal profit in the short run, what will happen to these

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Business Economics

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