In long-run equilibrium, a perfectly competitive firm makes a(n)
A) economic profit
B) accounting profit
C) implicit profit
D) normal profit

Name: In long-run equilibrium, a perfectly competitive firm makes a(n) A) economic profit B) accounting profit C) implicit profit D) normal profit
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Question

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In long-run equilibrium, a perfectly competitive firm makes a normal profit, which means it covers all its costs, including opportunity costs, but does not make an economic profit above this.

In Long-Run Equilibrium, a Perfectly Competitive Firm Makes A(n)