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Prices of output and economic profit in industry

for a purely-competitive decreasing-cost industry in a short run equilibrium in that typical firms temporarily produce economic profits, and the average total costs a typical firm incurs are positively associated to the: (w) number of close substitutes for output. (x) prices of output and economic profit into the industry. (y) number of firms in the industry. (z) magnitude of barriers to entry within the industry.

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