Use the following to answer questions:
Figure: The Perfectly Competitive Firm 
-(Figure: The Perfectly Competitive Firm) Look at the figure The Perfectly Competitive Firm. The figure shows a perfectly competitive firm that faces demand curve d and maximizes profit. The firm's economic profit in the long run will be:
Definitions:
Substitute
A replacement or alternative for someone or something.
Contract
A binding contract between multiple parties that is supported by legal enforcement.
Principal Purpose
The primary or predominant reason for which an activity, agreement, or operation is intended or carried out.
Substantially Frustrated
A condition in contract law when an unforeseen event undermines the purpose of the contract, justifying its termination.
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