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o entry, what happens in a market where economic profit is initially positive? Does competition always result in an efficient outcome in the long run?...

When there are no significant barriers to entry, what happens in a market where economic profit is initially positive? Does competition always result in an efficient outcome in the long run?

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The positive profits will diminish to zero as firms will... View the full answer

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When there are no significant barriers to entry, the... View the full answer

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