If supernormal profits are competed away under perfect competition, why will firms have an incentive to become

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If supernormal profits are competed away under perfect competition, why will firms have an incentive to become more efficient?

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Economics

ISBN: 978-0273721307

7th edition

Authors: John Sloman, Alison Wride

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Question Posted: Nov 18, 2013 09:33 AM

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If supernormal profits are competed away under perfect competition, why will firms have an incentive to become

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A firm may require an incentive in a competitive market to d...View the full answer

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