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If identical firms that remain in a competitive market over the long run make zero economic profit, why do these firms choose to remain in the market?
Marginal Cost
Marginal cost is the additional cost incurred from producing one more unit of a good or service.
Producing Bagels
The process of making bagels, which involves mixing, shaping, boiling and then baking dough, typically in a commercial or artisanal bakery setting.
Total Cost
The complete cost of producing a specific quantity of goods or services, including fixed and variable costs.
Average Fixed Cost
Production's unchanging overheads split by the volume of goods produced.
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