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Explain what will happen in each of the following scenarios in a long run constant cost competitive industry. a. The market price is $50, and

Explain what will happen in each of the following scenarios in a long run constant cost competitive industry. a. The market price is $50, and firms are earning positive profits. b. The market price is $25, and firms are earning zero profits. c. The market price is $15, and firms are eaming negative profits

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