profit (b) Since the feins earn Zero there will be no new entries and the feins would also leave there will no be no existing five firms in this Sudustry Long in the Run. will be no feires with the song reen them and Suice there will be no the shall be zero price will will also be zero because of no production.

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.