In the long run, the perfectly competitive firm will earn zero economic profit.
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Q118: The perfectly competitive firm takes its quantity
Q119: The additional revenue taken in by a
Q120: In perfect competition, the larger firms will
Q121: In perfect competition, the smaller firms will
Q122: The perfectly competitive firm maximizes profit by
Q124: The entry of new firms in a
Q125: Economic theory predicts that a perfectly competitive
Q126: In order for monopoly to exist, there
Q127: The monopolist faces a demand curve that
Q128: The monopolist is a price taker.
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