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18.In a study seminar, the following comments were made:Comment 1: “In the short run, an increase in demand in a perfectly competitive industry will result in negative economic profit for some firms in the industry.”Comment 2: “In the long run, a permanent increase in demand in a perfectly competitive industry will result in zero economic profit for the firms in the industry.”With respect to these comments: A:A:both are correct B:B:both are incorrect C:C:only one is correct |
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