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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.7
Which of the following is true about profit in the long run of perfect competition?
Firms earn economic profits
Firms' profits are uncertain
Firms earn zero economic profits
Firms always incur losses
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AP Microeconomics - 3.7 Perfect Competition
Key terms
Long Run
Perfect Competition
Profit
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About Us
About Fiveable
Blog
Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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