Why will profits for firms in a perfectly competitive industry tend to vanish in the long run?

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Principles Of Economics

ISBN: 9781506699868

2nd Edition

Authors: OpenStax

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Question Posted: Oct 29, 2023 01:17 PM

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Why will losses for firms in a perfectly competitive industry tend to vanish in the long run?
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Why will profits for firms in a perfectly competitive industry tend to vanish in the long run?

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Profits for firms in a perfectly competitive industry tend to vanish in the long run due to the fundamental characteristics of perfect competition and ...View the full answer

Principles Of Economics

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