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When talking about economic profits in a perfectly competitive market, the difference between the long run and the short run is that, in the short run, firms:
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When talking about economic profits in a perfectly competitive market, the difference between the long run and the short run is that, in the short run, firms:

User Naveen Goyal
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can earn positive and negative economic profits, but in the long run, firms have zero economic profits
User Michael Kessler
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