In the long-run, perfect competitive firm gets ____________.

Only normal profit

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Abnormal profit

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Loss

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Any of the above

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Solution

The correct option is A Only normal profit
In the long run, under the perfect competition there are large number of sellers selling homogeneous products. Due to this the profits are going to be reduced as an almost identical product is being sold and the profits get divided among all the sellers making it a small amount for every individual firm.

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