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28 Sep 2019
1-Explain the importance of free entry and exit in the perfectlycompetitive market. That is if free entry and exit did not exist,what impact would this have on the allocation of resources and onthe ability of firms to earn above normal profits over time?
2-In the short run, firms that seek to maximize their market sharewill tend to charge a lower price for their products than firmsthat seek to maximize their profit. Do you agree with thisstatement? Explain.
1-Explain the importance of free entry and exit in the perfectlycompetitive market. That is if free entry and exit did not exist,what impact would this have on the allocation of resources and onthe ability of firms to earn above normal profits over time?
2-In the short run, firms that seek to maximize their market sharewill tend to charge a lower price for their products than firmsthat seek to maximize their profit. Do you agree with thisstatement? Explain.
2-In the short run, firms that seek to maximize their market sharewill tend to charge a lower price for their products than firmsthat seek to maximize their profit. Do you agree with thisstatement? Explain.
Nusrat FatimaLv10
28 Sep 2019