Will firms in a price-taker market be able to earn profits in the long run? Why or

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Will firms in a price-taker market be able to earn profits in the long run? Why or why not? What determines profitability? Discuss.

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Economics Private And Public Choice

ISBN: 9780357133996

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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Question Posted: Oct 17, 2023 10:01 AM

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Will firms in a price-taker market be able to earn profits in the long run? Why or

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Firms in a perfectly competitive pricetaker market typically find it challenging to earn substantial profits in the long run This is because the characteristics of such markets make it difficult for i...View the full answer

Economics Private And Public Choice

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