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This is the situation that existed in the United States in the 1970s. Since there is only demand enough for 2.5 firms to reach the
This is the situation that existed in the United States in the 1970s. Since there is only demand enough for 2.5 firms to reach the bottom of the average cost curve, you would expect one firm will not be around in the long run, and at least one firm will be struggling.
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