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In the long run, a firm in perfect competition earns _____________

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Question:

In the long run, a firm in perfect competition earns _____________

A.

normal profit only

B.

abnormal profit

C.

average profit of past 5 years

D.

12.33 per cent profit on capital employed

Answer» a. normal profit only

Note: The above multiple-choice question is for all general and Competitive Exams in India.