If the firms in a competitive industry are earning profits, in the long run new firms will

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If the firms in a competitive industry are earning profits, in the long run new firms will ________.

But if most fi rms are losing money, then in the long run some of the firms will __________.

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 29, 2024 07:00 AM

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If the firms in a competitive industry are earning profits, in the long run new firms will

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If the firms in a competitive industry are earning profits in the long run new firms will enter the market This is because Profit incentive When exist...View the full answer

Microeconomics

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