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    Principles of Economics Study Set 8
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    Exam 14: Firms in Competitive Markets
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    Explain the Difference Between the Short Run and the Long
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Explain the Difference Between the Short Run and the Long

Question 237

Question 237

Essay

Explain the difference between the short run and the long run in terms of the number of firms in a competitive market.

Correct Answer:

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In the short run, the number o...

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