Each of the labels below is characteristic of a phase in the development of a competitive market industry. Please place each label in the appropriate...

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Each of the labels below is characteristic of a phase in the development of a competitive market industry.Please place each label in the appropriate bin. Firms exit the market Number of Firms remains stable Firms enter the market Price > Average Cost Firms earn both economic profit No firms earn economic profit and accounting profit Price < Average Cost Firms post an economic loss