Which of the following conditions ensures that excess profits cannot p
Which of the following conditions ensures that excess profits cannot persist in a perfectly competitive market over the long run?
A) Large number of firms in the industry.
B) Outputs of the firms are perfect substitutes for one another.
C) Complete information is available to all market participants.
D) Ease of entry into the market.
ANSWER
D
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.