In the long run in a perfectly competitive market:

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In a perfectly competitive market, firms earn zero economic profit in the long run due to the presence of free entry and exit of firms that compete with each other to offer the same product at the same price. Therefore, firms operate at an efficient scale, producing at the minimum point on the average total cost curve. In addition, supply is perfectly elastic when all firms have the same cost structure, indicating that any increase or decrease in demand is fully met by a corresponding increase or decrease in supply without affecting the market price.

In the Long Run in a Perfectly Competitive Market