In perfect competition,no firm can earn a normal profit in the long run.

Name: In perfect competition,no firm can earn a normal profit in the long run.
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Question

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In perfect competition, firms can earn normal profits in the long run, as normal profit is considered the minimum level of profit needed for a company to remain competitive in the market. It represents the opportunity cost of the resources employed by the firm.

In Perfect Competition,no Firm Can Earn a Normal Profit in the Long