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f) Explain the adjustment to the market and firm leading to the long-run equilibrium. (20 marks) g) Explain, what the firm has to do to
f) Explain the adjustment to the market and firm leading to the long-run equilibrium. (20 marks) g) Explain, what the firm has to do to make long-run positive economic profits. (20 marks) investigateTable I below illustrates the competitive market demand and supply of bread. The units of bread are given in thousands. Table 1 : Market for Bread Price Quantity Quantity demanded(in (00s) supplied(in 000s) 120 0 100 20 80 40 60 60 40 80 20 100 7 0 120 Suppose they are 100 identical firms in the bread market
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