Economic profit induces entry, which increases market supply and lowers price and profit. Economic loss induces exit,

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Economic profit induces entry, which increases market supply and lowers price and profit. Economic loss induces exit, which decreases market supply, raises price, and lowers the losses.

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Essential Foundations Of Economics

ISBN: 9780520219465

7th Global Edition

Authors: Bade, Robin;Parkin, Michael

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Question Posted: Nov 05, 2024 10:01 AM

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Economic profit induces entry, which increases market supply and lowers price and profit. Economic loss induces exit,

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Essential Foundations Of Economics

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