If the firms in a price-taker market are making short-run profits, what will happen to the market

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If the firms in a price-taker market are making short-run profits, what will happen to the market price in the long run? Explain.

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Economics Private And Public Choice

ISBN: 9780357133996

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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Question Posted: Oct 17, 2023 10:01 AM

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If the firms in a price-taker market are making short-run profits, what will happen to the market

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In a pricetaker market firms are characterized by their inability to influence the market price of the goods or services they produce This means they ...View the full answer

Economics Private And Public Choice

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