In the long run, existing firms exit a perfectly competitive market

Name: In the long run, existing firms exit a perfectly competitive market
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Question

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In a perfectly competitive market, existing firms will exit the market only if they incur an economic loss. This is because, in the long run, firms in a perfectly competitive market will enter or exit until they are just covering their opportunity costs, earning zero economic profit. Economic losses, which are below this break-even point, prompt firms to exit.

In the Long Run, Existing Firms Exit a Perfectly Competitive