Social Sciences, asked by kalpeshraikar1843, 1 year ago

Explain what is competitive firm and under what circumstances will a firm exit a markert

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Answered by sahil309

the industry if TR < TC at all output levels. Similarly, a potentially active firm should enter the industry if it can receive positive profits. ... A perfectly competitive firm's long run supply curve is 0 below min(ATC), and its MC curve above min(ATC).

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