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    Perfectly competitive firms

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    In the long run, firms will exit a perfectly competitive industry if: a. excess profits exceed zero., b.excess profits are less than zero., c.total profit equals zero., d.excess profits equal zero.

    Please explain.

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    https://brainmass.com/economics/microeconomics/perfectly-competitive-firms-19717

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    In the long run, firms will exit a perfectly competitive industry if: b. excess profits are less ...

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