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If perfectly competitive firms are making an economic profit, the economic profit Question 43 options: is less than the normal profit. leads to a decrease
If perfectly competitive firms are making an economic profit, the economic profit Question 43 options: is less than the normal profit. leads to a decrease in market demand. generally leads to firms exiting as they seek higher profit in other markets. can be earned both in the short run and the long run. attracts entry by more firms, which lowers the price
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