Explain why an industry in a perfectly competitive market

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Q. Explain why an industry in a perfectly competitive marketplace would choose to remain in business, if its profit is zero at equilibrium. Illustrate any theories or concepts you decide to utilize to answer this question with numerical examples.

Q. In the long run, a perfectly competitive marketplace will exhibit a. zero producer surplus b. zero consumer surplus c. positive economic profit d. allocative also productive efficiency e. allocative but not productive efficiency

Reference no: EM1343763

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