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Competitive firms in the long run earn:
- a)Super normal profit
- b)Normal profit
- c)Losses
- d)None
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Competitive firms in the long run earn:a)Super normal profitb)Normal p...
In the long run, with the entry of new firms in the industry, the price of the product will go down as a result of the increase in supply of output and also the cost will go up as a result of more intensive competition for factors of production. The firms will continue entering the industry until the price is equal to average cost so that all firms are earning only normal profits.
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Competitive firms in the long run earn:a)Super normal profitb)Normal p...
In the long run, with the entry of new firms in the industry, the price of the product will go down as a result of the increase in supply of output and also the cost will go up as a result of more intensive competition for factors of production. The firms will continue entering the industry until the price is equal to average cost so that all firms are earning only normal profits.
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Competitive firms in the long run earn:a)Super normal profitb)Normal p...
Normal profit
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Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer?
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Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer?.
Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Competitive firms in the long run earn:a)Super normal profitb)Normal profitc)Lossesd)NoneCorrect answer is option 'B'. Can you explain this answer?.
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