Will firms in a price-taker market be able to earn profits in the long run? Why or
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Will firms in a price-taker market be able to earn profits in the long run? Why or why not? What determines profitability? Discuss.
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Firms in a perfectly competitive pricetaker market typically find it challenging to earn substantial profits in the long run This is because the characteristics of such markets make it difficult for i...View the full answer
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Related Book For
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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