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A certain brand of vacuum cleaners can be purchased from several local stores as well as...

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Economics

A certain brand of vacuum cleaners can be purchased from severallocal stores as well as from several catalogues or websites. If allsellers charge the same price for the vacuum cleaner, will they allearn zero economic profit in the long run? Explain and include adiagram.

Answer & Explanation Solved by verified expert
3.6 Ratings (394 Votes)
So there are many sellers of the vacuum cleaner sellingidentical vacuum cleaners and there are many buyers So thismarket is can be closest to perfect    See Answer
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