Explain the implications of freedom of entry and exit of
1. Explain the implications of freedom of entry and exit of firms under perfect competition.
2. A good is an 'inferior' good for one and at the same time 'normal 'good for another consumer. Do you agree? Explain with the help of an example.
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1 explain the implications of freedom of entry and exit of firms under perfect competition2 a good is an inferior good
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