If a typical firm in an industry is earning normal profit, then other firms will also want to enter the industry.

Name: If a typical firm in an industry is earning normal profit, then other firms will also want to enter the industry.
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Normal profit is the minimum level of profit needed for a company to remain competitive in the industry; it does not indicate above-average profitability that would attract new firms.

If a Typical Firm in an Industry Is Earning Normal