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If a perfectly competitive industry has some firms earning very large economic profits, over the long run (over time) we can expect a. new firms
If a perfectly competitive industry has some firms earning very large economic profits, over the long run (over time) we can expect
a. new firms to enter the industry
b. the market supply curve to shift to the left
c. the market price to rise
d. profits earned by firms in the industry to rise
e. all of the above
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