Hi I hope you are doing great. I have a question. I need some help with it. It is over microeconomics. It has many parts with it. I am confused and I need help with it. I hope you can help me. Thank you.

Perfect Competition and the Supply Curve - End of Chapter Problem Given the assumptions of a perfectly competitive industry, explain why firms operating in that industry are reluctant to invest in new technological development. Firms in a perfectly competitive industry are reluctant to invest in new technological development due to .If any firm invested in new technology and earned profits, other firms will barriers to entry price to fall and the profits to get eroded. Furthermore, due to the product bei enter free entry and exit of firms s being , they cannot charge a higher price and recoup t exit investment.Perfect Competition and the Supply Curve End of Chapter Problem Given the assumptions of a perfectly competitive industry, explain whyr rms operating in that industry are reluctant to invest in new technological development. Firms in a perfectly competitive industry are reluctant to invest in new technological development due to - . If any rm invested in new technology and earned prots, other rms will - the market, which will cause the price to fall and the prots to get eroded. Furthermore, due to the product being - and producers being - , they cannot charge a higher price and recoup their differentiated pricemakers stand ardized pricetakers