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When a competitive price-searcher market is in long-run equilibrium, the firms in the market will earn
Decreased
The act or process of becoming smaller in size, quantity, or intensity; the opposite of increased.
Fluctuated
Varied or changed over time within a range or scale, often in an unpredictable manner.
Liberal Democracy
A form of government where free and fair elections occur and there is protection of individual rights and freedoms.
Formal Democracy
Involves regular, competitive elections.
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