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Suppose the book printing industry is competitive and begins with a long-run equilibrium.
Hi-Tech Printing Company invents a new process that sharply reduces the cost of printing books. What happens to-Tech'sprofits and the price of books in the short run whenHi-Tech'spatent prevents other firms from using the new technology?

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Chika Ilonah
Chika IlonahLv10
28 Sep 2019

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