Which of the following is true of a perfectly competitive market? a. If economic profits are earned,

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Which of the following is true of a perfectly competitive market?

a. If economic profits are earned, then the price will fall over time.

b. In long-run equilibrium, P = MR = SRMC = SRATC = LRAC.

c. A constant-cost industry exists when the entry of new firms has no effect on their cost curves.

d. All of the above.

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Survey Of Economics

ISBN: 9780357720806

11th Edition

Authors: Irvin B. Tucker

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Question Posted: Dec 29, 2023 07:49 AM

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Which of the following is true of a perfectly competitive market? a. If economic profits are earned,

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Survey Of Economics

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