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> They don't have to flip a switch, they just need to wait. They're playing the long game. So.. why is that "fucking ludicrous"? Seems to me they're playing th
by melvinmt 13y ago
> They don't have to flip a switch, they just need to wait. They're playing the long game.
So.. why is that "fucking ludicrous"? Seems to me they're playing the Long Run Equilibrium game just fine: "In the long run, every competitive firm will earn normal profit, that is, zero profit."