In the long run,in a perfectly competitive industry,________ are zero.

Name: In the long run,in a perfectly competitive industry,________ are zero.
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In the long run, in a perfectly competitive industry, economic profits are zero because new firms will enter the market attracted by the profits, which will increase competition and drive down prices until profits are eliminated. However, the costs of production, average total costs, prices, and variable costs may still exist in the long run.

In the Long Run,in a Perfectly Competitive Industry,________ Are Zero