If There Are No Profits in Competitive Equilibrium, Why Do

question 196

Essay

If there are no profits in competitive equilibrium, why do firms produce? How can they stay in business?

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Definitions:

Thoughts

Mental processes or ideas that arise within the mind of an individual, encompassing beliefs, opinions, and reflections.

Sociability

The extent to which an individual seeks social interactions and is comfortable in social settings.

Sincere Interest

A genuine and earnest concern or curiosity in a subject or person.

Versatility

The ability to adapt or be effective in different functions, roles, or activities.