Author Question: If perfectly competitive firms are entering or exiting a market, it must be true that the market (Read 97 times)

joesmith1212 · **on:** May 24, 2019

If perfectly competitive firms are entering or exiting a market, it must be true that the market
◦ is in the short run.
◦ is in the long run.
◦ is in the short run only if the firms' economic profits equal $0.
◦ is in the long run only if the firms' economic profits are positive.
◦ is in a long-run equilibrium because average variable costs are no longer relevant.

Kaytorgator · **Reply #1 on:** May 24, 2019

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