Question
When a market is easy to enter, you cannot make much profit in the long run. When you can make a good profit in the
"When a market is easy to enter, you cannot make much profit in the long run. When you can make a good profit in the long run, the market is difficult to enter. So, at best, a small new business can only earn some short-run profit."
Can you explain the above statement with detailed explanations?? better with graphs (e.g. graph related to the LRAC/ SRAC etc
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
