Lawn-mowing is a perfectly competitive industry.Alex's lawn-mowing service should close if Alex expects his long-run economic profits to equal zero.

Name: Lawn-mowing is a perfectly competitive industry.Alex's lawn-mowing service should close if Alex expects his long-run economic profits to equal zero.
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Question

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In a perfectly competitive industry, firms can continue operating in the long run even if economic profits are zero, as they are still covering all their opportunity costs, including normal profit.

Lawn-Mowing Is a Perfectly Competitive Industry