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In models where firms face barriers to entry Group of answer choices All of these options are correct. A limited number of firms operate. Firm's
In models where firms face barriers to entry Group of answer choices All of these options are correct. A limited number of firms operate. Firm's can earn positive economic profits even in the long-run. Firm's have market power, know this and use it. Firm's charge a price above their marginal cost of production. Government regulators may be concerned about the concentration of (too much) market power in the hands of suppliers
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