In a long-run perfectly competitive equilibrium which, Econometrics

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In a long-run perfectly competitive equilibrium which

Consider two perfectly competitive industries- Industry 1 and Industry 2. Each faces identical demand and cost conditions except that the minimum efficient scale output in Industry 1 is twice that of Industry.In a long-run perfectly competitive equilibrium, which industry will have more firms?What is economic rent? How does it differ from economic profit?

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Econometrics: In a long-run perfectly competitive equilibrium which

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Econometrics: In a long-run perfectly competitive equilibrium which

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