Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:For a perfectly competitive firm, there are only normal profits in the long run.
Answer» Yes. Under perfect competition, only normal profits prevail in the long run because of freedom of entry and exit of the firms in the market.

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