qwertyuiop4348 qwertyuiop4348

27-12-2019
Business

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Refer to the accompanying graphs for a competitive market in the short run. What will happen to the representative firm's economic profits as long-run market adjustments occur______.

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Karabo99 Karabo99

28-12-2019

Answer and Explanation:

profit will increase to zero .

Currently the firm is incurring loss as price is less than ATC. In the long run firms will exit.

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