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-(Figure: The Perfectly Competitive Firm)Use Figure: The Perfectly Competitive Firm.The figure shows a perfectly competitive firm that faces demand curve d and maximizes profit.The firm's economic profit in the long run will be:

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Use the following to answer question: 
-(Figure: The Perfectly Competitive Firm)Use Figure: The Perfectly Competitive Firm.The figure shows a perfectly competitive firm that faces demand curve d and maximizes profit.The firm's economic profit in the long run will be:

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In the long run, perfectly competitive firms earn zero economic profit due to free entry and exit of firms in the market. The firm's average total cost curve intersects the demand curve at the minimum point of the average total cost curve, which is at a quantity of 600. At this quantity, the price is $5 and the average total cost is $5, resulting in zero economic profit.

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