In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a normal profit.

Name: In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a normal profit.
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In the long run, perfectly competitive firms make zero economic profit because entry and exit of firms drive prices to the level where total revenue equals total cost, allowing only for normal profit.

In the Long Run, Perfectly Competitive Firms Make Zero Economic