In perfectly competitive industries, firms can easily enter and exit the industry in the long run.
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Q365: If demand in a perfectly competitive market
Q366: A firm in a perfectly competitive industry
Q367: Perfectly competitive firms maximize their profit by
Q368: The marginal revenue curve for a perfectly
Q369: The long run is a period of
Q371: Perfectly competitive firms sell homogeneous products.
Q372: For a firm in a perfectly competitive
Q373: Perfectly competitive firms are price setters.
Q374: The production decision is a short-run decision.
Q375: Individual firms in perfectly competitive industries decide
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