Firms in competitive markets can earn only normal profit in the long run because:

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CIMA BA1 Question Answer

Firms in competitive markets can earn only normal profit in the long run because:

A.

they produce homogeneous products

B.

there are no barriers to entry into these markets

C.

production costs are the same for all producers

D.

of the absence of economies of scale

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Product: BA1
Update on: Jul 28, 2025
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