How do cost-saving innovations affect economic profit in the short run? In the long run?

Question:

How do cost-saving innovations affect economic profit in the short run? In the long run?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Principles Of Microeconomics

ISBN: 9780073517858

6th Edition

Authors: Robert Frank, Ben Bernanke, Kate Antonovics, Ori Heffetz

Question Posted: