Roopali Pansari posted an Question
July 13, 2021 • 15:13 pm 1 points
  • UGC NET
  • Commerce

Under perfect competition a always enjoys normal profit .... then i don't understand why the assertion is incorrect

16. Assertion (A) : In long run under Perfect Competition all firms invariably get only normal profit.3gd o Reason (R): All firms incur minimum aver- age cost and incur no selling cost due to absence of product differentiation. Codes: (A) Assertion (A) and Reason (R) both are Correct. (B) Assertion (A) is correct, but Reason (R) is incorrect. (C) Assertion (A) is incorrect, but Reason (R) is correct. (D) Assertion (A) and Reasorn (R) both are bes incorrect.

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  • Anju bala

    In long run under Perfect Competition all firms invariably get only normal profit means ek firm long run mein almost (invariably) normal profit hi earn krti hai..

  • Anju bala

    yes, assertion is incorrect in accordance to reason. in above question, assertion is not as per reason. because in long run, unlimited firms produce unlimited homogenous products . due to which in long run, Price=MC=AC. if still there is any query regardinv the same then u can ask again.

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