Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The elimination principle says that in the long run, firms in perfect competition will: a. only use capital and not use labor b. all leave
The elimination principle says that in the long run, firms in perfect competition will: a. only use capital and not use labor b. all leave and the market will dissolve c. only make a normal profit d. end up using inefficient methods of production
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started