Explain why is there only normal profit in the long period – InterviewSolution

1.	Explain why is there only normal profit in the long period
Answer» Explain why in long-run equilibrium in aperfectly competitive industry FIRMS will earn zero economic profit. ...Explain why under PERFECTION competition OUTPUT prices will change by less than the change in production COST in the short run, but by the FULL amount of the change in production cost in the long run.

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