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Why does perfect competition often lead to a market in which profits tend toward zero? Why does the government sometimes support a monopoly? Over the
- Why does perfect competition often lead to a market in which profits tend toward zero?
- Why does the government sometimes support a monopoly?
- Over the longrun, why do low-cost providers generally prevail?
- In monopolistic competition, a business may enjoy a unique advantage in the short term. In the long term, what could happen to this unique advantage?
- What are some of the benefits of perfect competition?
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