A firm in perfect competition may generate supernormal profit or incur losses in short run but it will always land up making normal profits in the long run. Do you agree? If
![Short run profit max for a perfectly competitive firm - FreeEconHelp.com, Learning Economics... Solved! Short run profit max for a perfectly competitive firm - FreeEconHelp.com, Learning Economics... Solved!](https://4.bp.blogspot.com/-l1Y5FLEhhZU/TxsgQxlXJ8I/AAAAAAAAAZg/cvG38wYv5fE/s1600/PC+profit2.png)
Short run profit max for a perfectly competitive firm - FreeEconHelp.com, Learning Economics... Solved!
![SOLVED: Refer to the accompanying graph. The short-run profit-maximizing output for the monopolistic competitive firm is: Price, Costs,and Revenue (Dollars) Marginal Cost Average Total Cost Demand Marginal Revenue 5060 Units of Output SOLVED: Refer to the accompanying graph. The short-run profit-maximizing output for the monopolistic competitive firm is: Price, Costs,and Revenue (Dollars) Marginal Cost Average Total Cost Demand Marginal Revenue 5060 Units of Output](https://cdn.numerade.com/ask_images/7c073b1debf44f6680474beafeeb1fe3.jpg)
SOLVED: Refer to the accompanying graph. The short-run profit-maximizing output for the monopolistic competitive firm is: Price, Costs,and Revenue (Dollars) Marginal Cost Average Total Cost Demand Marginal Revenue 5060 Units of Output
![Illustrate the short-run profit maximization scenario of a competitive firm in case of loss. | Homework.Study.com Illustrate the short-run profit maximization scenario of a competitive firm in case of loss. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/capture2473783307219444010.png)
Illustrate the short-run profit maximization scenario of a competitive firm in case of loss. | Homework.Study.com
![Provide an image of the graph for short run economic profit for a perfectly competitive firm. | Homework.Study.com Provide an image of the graph for short run economic profit for a perfectly competitive firm. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/economic_profit3972724040346021478.png)