Economy, asked by shreya0702, 4 months ago

Q.15.Under perfect competition, the firm earns normal profit in the long-run because of:

(a) large no. of buyers and sellers

(b) perfect knowledge about the market

(c) freedom of entry and exit of firms

(d) Homogeneous commodity

Answers

Answered by as9528269
0

Answer:

(c) freedom of entry and exit of firms

Explanation:

In perfect competition, there is freedom of entry and exit. If the industry was making supernormal profit, then new firms would enter the market until normal profits were made. This is why normal profits will be made in the long run

Answered by BrainlySrijan1
1

Answer:

your correct answer in attachment

Attachments:
Similar questions