Business, 18.10.2019 06:30 talia43

Which of the following is true concerning purely competitive industries?

a. there will be economic losses in the long run because of
cut-throat competition.
b. economic profits will persist in the long run if consumer
demand is strong and stable.
c. in the short run, firms may incur economic losses or
earn economic profits, but in the long run they earn normal
profits.
d. there are economic profits in the long run, but not in the
short run.

Answers: 3

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Which of the following is true concerning purely competitive industries?

a. there will...