Suppose that some firms in a competitive industry are earning zero economic profits, while others are experiencing losses. all else equal, in the long run, we would expect the number of firms in the industry to decrease
Generally, In a market that is competitive, companies are free to join and leave the market at will, and there are few obstacles standing in their way.
For instance, the market for pizza restaurants in a particular major city may be very competitive due to the fact that anybody may choose to create a new pizza shop, and current owners can choose to shut their doors anytime they like.
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