In perfectly competitive markets, firms in the market in the long-run, will earn zero economic profits.
<h3>What economic profits are earned in a perfectly competitive market?</h3>
In the short-run, there is a chance to earn a positive economic profit in a perfectly competitive market but this would then attract other companies into the market to make profits as well.
This then leads to the profits disappearing thanks to increased supply and lower prices. Companies would then leave and enter to either take advantage of profits or stop losses thereby keeping economic profits at zero in the long run.
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Answer:
5+5=10
Explanation:
Now to get that answer you need two hands make sure they both have five fingers now put your hands toughter now then count the fingers and if you count them there should be 10 unless you ate one yesterday like I did.
The rate at which the height of the water in this cylindrical tank is increasing is 26.18 m/mn.
<h3>How to calculate the volume of a cylinder?</h3>
Mathematically, the volume of a cylindrical tank can be calculated by using this formula:
V = πr²h
Where:
Differentiating with respect to h, we have:
dV/dt = πr²(dh/dt)
3 = 3.142 × 5² × dh/dt
3 = 78.55dh/dt
dh/dt = 78.55/3
dh/dt = 26.18 m/mn.
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