Categories Economics In perfect competition and in case of long run, firms earn ______________ profit.. Post author By thelooknow Post date March 22, 2022 A. Excess B. No C. Normal D. None of the above CORRECT ANSWER IS: Normal ← In perfect competition and in case of short run equilibrium, firm losses its profit if average total cost is _____________ the price at equilibrium. → In perfect competition, In long run , the equilibrium of the firm is _______________.