Business, 25.10.2019 03:43, tmanpierce

Profits encourage entry into purely competitive industries and losses encourage exit from purely competitive industries because
a) when losses are negative, firms cannot cover explicit costs.
b) when losses occur, firms need to raise the prices of their products.
c) when profits are zero, the firm is earning sufficient revenue to cover its opportunity cost.
d) when profits are positive, the firm is earning sufficient r

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Profits encourage entry into purely competitive industries and losses encourage exit from purely com...