Normal profit in the long run problem, Accounting Basics

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Normal profit in the long run problem

The basic model of competition reviewed finds that in the long run all firms in a purely competitive industry will earn normal profits. if all firms will only earn a normal profit in the long run, why would any firms bother to develop new products or lower-cost production methods? Explain.

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Accounting Basics: Normal profit in the long run problem

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Accounting Basics: Normal profit in the long run problem

Reference No:- TGS050330

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Estimate relationship between bond prices and interest rates

Q : Tenant makes capital improvements to the property

Q : Determining the growing annuity

Q : Forecasting-planning and business strategy

Q : Normal profit in the long run problem

Q : Coupon rate and the required return on a bond

Q : Making a segmented income statement

Q : Municipal bonds

Q : What are the effects on net income from transactions

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Normal profit in the long run problem

Reference No:- TGS050330

Recent Questions Asked Accounting Basics

Q : Estimate relationship between bond prices and interest rates

Q : Tenant makes capital improvements to the property

Q : Determining the growing annuity

Q : Forecasting-planning and business strategy

Q : Normal profit in the long run problem

Q : Coupon rate and the required return on a bond

Q : Making a segmented income statement

Q : Municipal bonds

Q : What are the effects on net income from transactions

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