Explain Briefly ? why profit rates in all competitive industries tend toward the same level. What incentive

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Explain Briefly ? why profit rates in all competitive industries tend toward the same level. What incentive does this create for entrepreneurs and how does this benefit society as a whole?

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Price theory and applications

ISBN: 978-0538746458

8th edition

Authors: Steven E landsburg

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Posted Date: Apr 24, 2024 04:21 AM

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Explain Briefly ? why profit rates in all competitive industries tend toward the same level. What incentive

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Profit rates in competitive industries tend to converge towards the same level due to the forces of ... View the full answer

Price theory and applications

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