Question: Question 4 7 1 . 6 points Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating large positive profits.

Question

47

1.6

points

Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating large positive profits. In the long run, we can expect

new firms to enter, causing the market price of corn to decrease.

new firms to enter, causing the market price of corn to increase.

some firms to exit, causing the market price of corn to decrease.

some firms to exit, causing the market price of corn to increase.

Question 4 7 1 . 6 points Assume that the market

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