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book Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson cover

Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson

Edition 13ISBN: 9780538754279
book Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson cover

Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson

Edition 13ISBN: 9780538754279
Exercise 1
If the firms in a price-taker market are making short-run profits, what will happen to the market price in the long run? Explain.
Explanation
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Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson
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