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Title: A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand ... Post by: bananas87 on Oct 1, 2023 A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand increases. As a result, existing firms in the market begin to __________. By the time all adjustments have been made, profits will __________. ▸ earn positive economic profit, rise even higher ▸ earn positive economic profit; be back at zero ▸ produce more output; be less than zero ▸ produce less output; rise ▸ earn positive economic profit; turn into losses Title: Re: A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand ... Post by: jp50 on Oct 1, 2023 Content hidden
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