(Answered) Assume in an industry where firms are making an economic

Economics

Assume, in an industry where firms are making an economic profit, the creation of an internet platform has broken down all entry barriers and resulted in a huge increase in the number of firms entering the industry. What will be the implication on profit to the existing firms in this industry? Use graphical demand and supply analysis to support your explanation.

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Macroeconomics, Economics

Category:- Macroeconomics
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