If companies earn economic profits in a perfectly competitive market, over the long run the supply curve

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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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Economics For Investment Decision Makers

ISBN: 9781118111963

1st Edition

Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto

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Question Posted: Mar 09, 2024 11:02 AM

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If companies earn economic profits in a perfectly competitive market, over the long run the supply curve

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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

Economics For Investment Decision Makers

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