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Economics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453538Economics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453538 Exercise 9
Because price searchers can set their prices, does this mean that their prices are unaffected by market conditions? In price-searcher markets with low barriers to entry, will the firms be able to make economic profit in the long run? Why or why not?
Explanation
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a. Price is affected by market condition...
Economics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
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