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Nick sells pizza in a perfectly competitive market. The pizza industry has experienced a large increase in demand for pizzas. Consequently, Nick has been able

Nick sells pizza in a perfectly competitive market. The pizza industry has experienced a large increase in demand for pizzas. Consequently, Nick has been able to make economic profits.

Which of these statements is correct:

1. In this situation, new pizza businesses will try to enter the market.

2. Nick will not be recovering his opportunity cost.

3. Nick is a price maker.

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