Explain Why Economic Profits in All Perfectly Competitive Markets Will

question 19

Essay

Explain why economic profits in all perfectly competitive markets will tend toward zero in the long run.

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Definitions:

Bartholin's Glands

Two small glands located near the vaginal opening in females that secrete fluid to lubricate the vagina.

Hospitable Environment

A setting or atmosphere that is welcoming and conducive to comfort or well-being.

Vestibule

The entrance or enclosed area leading into a larger space; in anatomy, it can refer to the space at the entrance of some body cavities.

Bartholin's Glands

A pair of glands located on either side of the vaginal opening that secrete fluid to lubricate the vagina.