Assume firms in the short run are earning above-normal profits. Explain what will happen to these profits
Question:
a. Pure monopoly
b. Oligopoly
c. Monopolistic competition
d. Perfect competition
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a In a pure monopoly no one else can enter the market Thus the m...View the full answer
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Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
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