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:

Phospholipids

A class of lipids that are a major component of all cell membranes, as they can form lipid bilayers.

Bilayer

Often refers to the lipid bilayer, a thin polar membrane made of two layers of lipid molecules, forming the basic structure of cell membranes.

Permeable Barrier

A structure or material that allows the passage of particles, such as liquids or gases, through itself while blocking others, based on size, shape, or other properties.

Plasma Membrane

A bi-layer of lipids and proteins surrounding a cell, regulating the passage of substances in and out of the cell.