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MrsAngelD MrsAngelD
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Posts: 322
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6 years ago
If entry is limited due to a limited input, firms in that market earn long run economic profit.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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wrote...
6 years ago
False. The price of the limited input will be bid up until zero economic profits result in the market that uses the input.
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