In the Long Run,a Firm in a Perfectly Competitive Market

question 29

Multiple Choice

In the long run,a firm in a perfectly competitive market will

• A) make zero economic profit, so that its owners earn a normal profit.
• B) make zero normal profit but its owners will make an economic profit.
• C) remove all competitors and become a monopolistically competitive firm.
• D) incur an economic normal loss but not earn a positive economic profit.
• E) remove all competitors and become a monopoly.

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