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5 May, 04:37

When new firms enter a perfectly competitive market,

a. entering firms will earn zero economic profit upon entry into the market.

b. economic profits of existing firms will continue to be zero.

c. prices will rise as existing firms raise prices to keep new firms out of the market.

d. existing firms may see their costs rise if more firms compete for limited resources?

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Answers (1)
  1. 5 May, 04:54
    0
    B is the correct answer
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