in a perfectly competitive industry, in the long run, firms earn a positive economic profit firms earn zero economic profit firms earn a negative economic profit firms might earn a positive, zero or negative profit " "
in a perfectly competitive industry, in the long run, firms earn a positive economic profit firms earn zero economic profit firms earn a negative economic profit firms might earn a positive, zero or negative profit " "
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![in a perfectly competitive industry, in the long
run,
firms earn a positive economic profit
firms earn zero economic profit
firms earn a negative economic profit
firms might earn a positive, zero or negative
profit
"](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F47a5ad92-bfc2-4457-9d65-5c70759817ae%2Fcfc27e8d-beed-4242-ae36-958ae110a966%2F50l5jrc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:in a perfectly competitive industry, in the long
run,
firms earn a positive economic profit
firms earn zero economic profit
firms earn a negative economic profit
firms might earn a positive, zero or negative
profit
"
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