Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

10nt !! 10 If every comptitive firm earns abnormal profits in the short run, what do you expect will happen in the long run?

image text in transcribed

10nt !! 10 If every comptitive firm earns abnormal profits in the short run, what do you expect will happen in the long run? why? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Microeconomics

Authors: Hal R. Varian

9th edition

978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968

More Books

Students also viewed these Accounting questions

Question

1 Does the organisation chart look tall or flat?

Answered: 1 week ago

Question

1 What evidence is there of high or low levels of formality?

Answered: 1 week ago