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Explain How Economic Profits Are Reduced to Zero as New

question 56

Essay

Explain how economic profits are reduced to zero as new firms enter a monopolistically competitive industry.


Definitions:

By Words

Through verbal expression or speech rather than written documents.

Forms Of Gambling

Forms of gambling are various types of betting or wagering activities, including lotteries, sports betting, casino games, and online gambling.

Regulated By Many States

Subject to the control and guidelines established by laws and regulations in multiple U.S. states.

Competing Store

A business that sells similar or identical goods or services and targets a similar customer base as another business.

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