Final answer:
Companies with a long-run view target increased market share during market growth to capitalize on the ability to expand production and improve their market position before the long-run equilibrium of zero economic profits is achieved in a perfectly competitive market.
Step-by-step explanation:
Companies with a long-run view aim for increased market share when the market is growing. This strategic objective is based on the understanding that, in the long term, firms have the capacity to expand production, such as building new factories, hiring additional workers, and opening new stores. These expansions are part of a long-term growth strategy that is less feasible in the short run due to various constraints and costs.
In a growing market, securing a larger market share assists companies in establishing a strong brand, achieving economies of scale, and exercising greater control over market dynamics. The competition tends to be focused on increasing production capacity and improving market position before economic profits are driven down to zero, which is the anticipated result in a perfectly competitive market's long-run equilibrium.
Hence, when the opportunity for growth presents itself, aiming for an increased market share aligns with achieving these long-term objectives.