In a perfectly competitive market,the driving force behind long-run economic change is

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In a perfectly competitive market, economic profit or loss is the primary driving force behind long-run economic change. Firms that earn profit will continue to produce and expand their operations, while firms that incur losses will exit the market, leading to a reallocation of resources and potential changes in market structure. This incentivizes firms to constantly seek out ways to reduce costs and increase efficiency, leading to long-term economic growth and development. Government intervention, employment, management, and altruism may play a role in shaping market outcomes, but they are not the primary drivers of long-run economic change in a perfectly competitive market.

In a Perfectly Competitive Market,the Driving Force Behind Long-Run Economic