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The primary force encouraging the entry of new firms into a purely competitive industry is


A) normal profits earned by firms already in the industry.
B) economic profits earned by firms already in the industry.
C) government subsidies for start-up firms.
D) a desire to provide goods for the betterment of society.

E) A) and C)
F) A) and D)

Correct Answer

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Creative destruction is something that our society should try to avoid, through government regulation of business.

A) True
B) False

Correct Answer

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