Question: Why must profits be zero in long-run competitive equilibrium? a. If profits are not zero, firms will enter or exit the industry. b. If profits

Why must profits be zero in long-run competitive equilibrium?

a. If profits are not zero, firms will enter or exit the industry.

b. If profits are not zero, firms will produce higher-quality goods.

c. If profits are not zero, marginal revenue will rise.

d. If profits are not zero, marginal cost will rise.


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