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In a perfectly competitive industry, can new firms enter and exit the industry?
In a perfectly competitive industry, can new firms enter and exit the industry easily? Its for my Econ class and I can't figure out the answer. any help would be great.
yes they can easily, but its hard to stay in because of the competition the prices will be very elestic, meaning if you raise your prices a bit, you will lose a lot of demand for your product because there are so many other firms in the same industry
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Michigan film industry refocuses on big picture
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