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3. Why are economic profits not possible in the long run in a purely competitive market? A. Each firm is too small to make a
3. Why are economic profits not possible in the long run in a purely competitive market? A. Each firm is too small to make a profit. B. New firms will enter the market and drive prices down. C. Profitable markets drive prices too high and consumers stop buying. D. More firms will leave a profitable market, driving prices down
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Principles of economics
Authors: N. Gregory Mankiw
6th Edition
978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042
