Why can there be excess profits in the short run but not in the long run?

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Economics An Introduction To Traditional And Progressive Views

ISBN: 9780765616685

7th Edition

Authors: Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, Barbara A. Wiens-Tuers

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Question Posted: Nov 08, 2023 08:58 PM

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Why can there be excess profits in the short run but not in the long run?

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Excess profits can occur in the short run due to several factors including Barriers to entry When there are significant barriers to entry in a market ...View the full answer

Economics An Introduction To Traditional And Progressive Views

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