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10 cards from this deck
Market where entry threat forces only normal profits
William Baumol
Unrecoverable expenses if firm exits market
Enter for short-run profit, exit without cost
Price equals average cost
Not achieved (price > marginal cost)
Unlikely to persist due to entry threat
May be hindered (low profit limits R&D funding)
Reduces barriers, improves consumer information
Price below profit-max level to deter entry
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