In the long-run equilibrium in a perfectly competitive market, the economic profit of the firms is

Name: In the long-run equilibrium in a perfectly competitive market, the economic profit of the firms is
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In the long-run equilibrium of a perfectly competitive market, firms earn zero economic profit because any potential profits attract new firms, increasing supply and driving prices down until only normal profits remain.

In the Long-Run Equilibrium in a Perfectly Competitive Market, the Economic