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In a perfectly competitive industry, what happens if companies in the industry earn an excess profit, or a profit in excess of opportunity costs? Assess
In a perfectly competitive industry, what happens if companies in the industry earn an "excess profit", or a profit in excess of opportunity costs? Assess the situation both in the short run (when it is not possible to build new capacity) and in the long run. Describe narratively and graphically
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Introduction to Behavioral Economics
Authors: David R. Just
1st edition
0470596228, 978-0470596227
