Question

Using diagrams, explain what happen to the industry and individual firm if there is a
significant increase in the price to consumers of purchasing movies online.

Answer 1

Explanation:

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Answer 2

Answer:

Firms enter an industry when they expect to earn economic profit, even if the profit will be short-lived. ... So even when economic profit falls to zero, the firm will be doing as well as it could in any other industry, and then the owner will be indifferent to staying in the industry or exiting.

Explanation:

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