If a perfectly competitive firm is in long-run equilibrium, then it is earning an economic profit of zero.

Name: If a perfectly competitive firm is in long-run equilibrium, then it is earning an economic profit of zero.
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In long-run equilibrium, a perfectly competitive firm earns zero economic profit because any positive economic profits would attract new firms to the market, increasing supply and driving down prices until profits are eliminated.

If a Perfectly Competitive Firm Is in Long-Run Equilibrium, Then