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8 January, 13:01

In long-run equilibrium:

A. perfectly competitive firms in a decreasing-cost industry can earn economic profits

B. perfectly competitive firms in an increasing-cost industry can earn economic profits

C. perfectly competitive firms can earn only normal profits

D. perfectly competitive firms in a constant-cost industry can earn economic profits

E. no entry occurs in an increasing-cost perfectly competitive industry

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  1. 8 January, 13:14
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    I think the answer is C.
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