Question continued……….. d) As this is perfect competition, new firms may enter the market and compete these profits away. What therefore will ensure that only normal profits are made? e) The answer to part d) should be the same as the answer to c (4), why? Read answer

Question continued………..

d) As this is perfect competition, new firms may enter the market and compete these profits away. What therefore will ensure that only normal profits are made?

e) The answer to part d) should be the same as the answer to c (4), why?
Read answer

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