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Draw a Competitive Firm in Each of the Following Situations

question 177

Essay

Draw a competitive firm in each of the following situations.
a. earning abnormal profits
b. making losses
c. Are either of the situations in (a) and (b) sustainable into the long run? If not, explain why and graphically demonstrate how the competitive firm is expected to behave in the long run.


Definitions:

Police Violence

The use of excessive or unnecessary force by police officers against civilians, often tied to discussions of systemic racism and justice reform.

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The use of hashtags on social media platforms to foster discourse, raise awareness, and promote social or political causes.

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The system and methods used within a democracy that allow citizens to participate in decision-making, usually through voting and representation.

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