analysis
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The question is from the A2 AQA Economics book by Nelson Thornes, and it says -

Extract B Says 'However in the long run the operation of a perfectly competitive market will result in the efficient allocation of resources and is totally dependent upon the free entrance and exit of firms in response to profit making or loss making circumstances.' Analyse and evaluate this statement....

This seems like a very wordy question to me and I'm not sure how to go about answering this. I mean, what exactly do i evaluate and how

Thanks....
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Finchux
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LONG RUN PERFECT COMPETITION - Is efficiency due to no barriers to entry causing firms to make only normal profits / minimal losses?
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Joshwills777
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Did you ever find the answer to this question, im being asked to do this now and have no idea?!
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