Firms Know That When They Enter a Profitable Industry, Profits

question 19

Essay

Firms know that when they enter a profitable industry, profits will eventually be eliminated by competition. Why would a firm want to enter such an industry?

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Definitions:

Faith Ringgold

An American artist renowned for her narrative quilts that communicate political messages, particularly relating to civil rights and feminist movements.

Primary Material

The original or main materials used in studies, research, or art, often providing direct evidence or firsthand accounts.

Maya Lin

An American architect and artist known for her minimalist works and environmental art, including the Vietnam Veterans Memorial.

Minimalist Sculpture

An art movement that emerged in the 1960s, characterized by simple, geometric forms and a lack of personal expression to focus on the artwork itself.