In a perfectly competitive market, would you expect a firm that adopts cost-saving innovations…

In a perfectly competitive market, would you expect a firm that adopts cost-saving innovations…

In a perfectly competitive market, would you expect a firm that adopts cost-saving innovations faster than 80% of all firms in the market to earn economic profits? Why or why not? Support your answer by showing how the short run profit maximizing graph for this firm changes when they adopt this innovation.b. Based on your answer to part a, what will happen to this firm in the long run

In a perfectly competitive market, would you expect a firm that adopts cost-saving innovations…

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