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Answer to Question #146841 in Economics for Albert Derrick Fiatui
Question #146841
In the long run (long-term) how do ship-owners adjust (respond) to price changes in freight rate?
Expert's answer
In the long run more ship-owners will operate at a higher freight rate, and less ship-owners will operate at a lower freight rate.
In both cases all of them will earn normal (zero) profits.
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