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In a perfectly competitive market, what mechanism ensures that firms only earn an average rate of return in the long run? Group of answer choices
In a perfectly competitive market, what mechanism ensures that firms only earn an average rate of return in the long run? Group of answer choices Entry and exit of firms adjusting the market supply. Government interventions that set prices and profits. The inherent efficiency of all firms in the market. Fixed demand that does not respond to price changes
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
9th Edition
978-0132146654, 0132146657, 9780273754091, 978-0273754206
