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In the long run purely competitive firms will A. Only make a normal profit, as economic profits will attract new firms, which will increase industry supply and decrease the price below levels needed to make an economic profit B. only make a normal profit, as economic losses will attract new firms, which will increase industry supply & decrease the price below levels needed to make an economic profit C. make an economic profit if they can differentiate their product from the competition.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M958229

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