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Presume that each firm must make an upfront investment of $1000 to enter the market and t that your competition has already paid this investment and chosen is non recoverable (sunk). Must you make te $1,000 investment and enter the market? If so, how much must you produce and what are your profits? Continue to assume that your firm will survive for only one production period.

Microeconomics, Economics

  • Category:- Microeconomics
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