1. When discussing pure competition, the term long run refers to a period of time long enough...
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1. When discussing pure competition, the term long run refers to a period of time long enough to allow: LO11.1
a. Firms already in an industry to either expand or contract their capacities.
b. New firms to enter or existing firms to leave.
c. Both a and b.
d. None of the above.
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Related Book For
Microeconomics Principles, Problems, And Policies
ISBN: 9781259915727
21st Edition
Authors: Campbell McConnell
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