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Assume that Uber drivers operate in a perfectly competitive market. Assume that in the city where they work, overall demand increases (i.e. increase in market

Assume that Uber drivers operate in a perfectly competitive market. Assume that in the city where they work, overall demand increases (i.e. increase in market demand). Uber drivers start to make an above-normal economic profit. Please explain clearly in words what the adjustment process will be (from the short- run to long- run) for the market and the individual firm (i.e. the typical Uber driver).

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