In the Long Run, Perfectly Competitive Firms Cannot Make an Economic

question 394

Essay

In the long run, perfectly competitive firms cannot make an economic profit. Why?

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Definitions:

Phobic Disorder

A type of anxiety disorder characterized by an excessive and irrational fear of an object, situation, or activity, leading to avoidance behavior.

Enclosed Places

Locations confined within boundaries or surrounded by walls, often affecting people's comfort or behavior.

Irrational Fear

Irrational fear is an intense and unreasonable apprehension towards a particular object, situation, or activity that poses little to no actual risk.

Psychiatric Institutions

Facilities dedicated to the care and treatment of individuals with mental health disorders, including hospitals and clinics.