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Issues in Economics Today 7th Edition by Robert Guell
Edition 7ISBN: 978-0078021817Issues in Economics Today 7th Edition by Robert Guell
Edition 7ISBN: 978-0078021817 Exercise 11
Economic theory would suggest that the profitability of an industry would be
A) directly related to the number of firms competing in the industry.
B) inversely related to the number of firms competing in the industry.
C) unrelated to the number of firms competing in the industry.
D) zero in the long run, regardless of market structure.
A) directly related to the number of firms competing in the industry.
B) inversely related to the number of firms competing in the industry.
C) unrelated to the number of firms competing in the industry.
D) zero in the long run, regardless of market structure.
Explanation
Verified
Verified
Hence option (a)is incorrect.
The profit...
Issues in Economics Today 7th Edition by Robert Guell
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