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JAMB Economics 2008 Objective — Question 24

Question 24 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2008 Objective paper, with the correct answer and a full explanation.

The characteristic of entry and exit ensure that firms

A. earn excess profit
B. earn normal profitCorrect
C. break-even
D. expand their operation

Explanation

The characteristic of entry and exit ensure that firms earn normal profit.

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