question archive There are 300 purely competitive farms in the local dairy market
There are 300 purely competitive farms in the local dairy market
Subject:EconomicsPrice: Bought3
There are 300 purely competitive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $21 for every $300 invested.
If firms can copy each other's technology, what will be the rate of return eventually earned by all firms?
