In perfectly competitive markets, firms in the market in the long-run, will earn zero economic profits.
<h3>What economic profits are earned in a perfectly competitive market?</h3>
In the short-run, there is a chance to earn a positive economic profit in a perfectly competitive market but this would then attract other companies into the market to make profits as well.
This then leads to the profits disappearing thanks to increased supply and lower prices. Companies would then leave and enter to either take advantage of profits or stop losses thereby keeping economic profits at zero in the long run.
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They met at the Mount Washington Hotel I believe.
An example of Elementary linear algebra 11th edition is given in the image attached.
<h3>What is elementary linear algebra?</h3>
Linear algebra is known to be a part of math work. It is known to be the most easiest form of upper-level math works example is abstract algebra.
Conclusively, using the image attached, the answer will be (x1, x2) = (–8, 3)
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Iterated elimination of strictly dominated strategies (IESDS) is a common technique that is used to get solutions to games that involve iteratively removing dominated strategies.
<h3>What is a weakly dominated strategy?</h3>
This refers to the type of strategy that delivers an equal or worse outcome than an alternative strategy.
Hence, we can see that in game theory, the use of strategic dominance is used when one strategy is better than another strategy for one player, not withstanding the efforts of the other player.
Therefore, this can be eliminated with the use of iterations to remove the weakly dominated strategies
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I would say minor frustration because it is easy to get rid of it
