-The perfect competitor shown in the graph above is in the

Name: -The perfect competitor shown in the graph above is in the
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

In the long run, a perfect competitor will adjust its scale of operation such that it will only make normal profits, or in other words, break even. This is because, in the long run, firms can enter or exit the market freely, leading to a situation where the price equals the average total cost (ATC), resulting in zero economic profit.

-The Perfect Competitor Shown in the Graph Above Is in the