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Match the following characteristics with the appropriate model of firm behavior,and explain how efficient each firms is in the long run.
(A)Firm faces a horizontal demand curve with no economic profits in the long run.
(B)Firm faces a downward-sloping demand curve.Economic profits can exist in the long run.
(C)Firm faces a downward-sloping demand curve.Economic profits do not exist in the long run.
(D)Firm's demand curve incorporates estimates of other firms' behavior.Profits can exist in the long run.
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