If a profit-maximizing competitive firm has constant returns to scale, then its long-run profits must be zero.
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Q1: A profit-maximizing competitive firm uses just one
Q2: A profit-maximizing competitive firm uses just one
Q3: A competitive firm produces a single output
Q4: The marginal product of a factor is
Q5: A competitive firm produces output using three
Q7: A profit-maximizing competitive firm uses just one
Q8: A fixed factor is a factor of
Q9: A firm produces one output using one
Q10: The weak axiom of profit-maximizing behavior states
Q11: A competitive firm produces output using three
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