explain why perfect competition, there are no economic profits or losses in the long run

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Write a two-page essay, using proper APA format, that explains why perfect competition, there are no economic profits or losses in the long run. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style. Course Textbook: McEachern, W.A.(2015). ECON microeconomics (4th ed.). Stamford, CT: Cengage Learning

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