Q. In the long run, a firm in perfect competition earns _____________ (Solved)
1. normal profit only
2. abnormal profit
3. average profit of past 5 years
4. 12.33 per cent profit on capital employed
- a. normal profit only
1. normal profit only
2. abnormal profit
3. average profit of past 5 years
4. 12.33 per cent profit on capital employed