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A student in a principles of economics course makes the following remark: The economic model of perfectly competitive markets predicts that in the long run,
A student in a principles of economics course makes the following remark: "The economic model of perfectly competitive markets predicts that in the long run, a firm will earn zero profits." Another student who has not taken an economics class says "No firm in the real world would stay in business if it earned zero profits. As a student in this class, how would you respond to this remark
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