Business, 21.04.2020 00:51 lizzyhearts

Suppose a perfectly competitive firm and industry is in long-run equilibrium and the firm earns an economic profit in the short run. Which of the following is likely to occur in the long run?
The market supply curve will shift to the right, and the market price will decrease. price exceeds average variable cost. an economic loss.

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Suppose a perfectly competitive firm and industry is in long-run equilibrium and the firm earns an e...