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In the long-run, which of the following is true regarding a perfectly competitive firm's profits?

A

It may be earning positive economic profits, suffering economic losses or earning zero economic profits, but it will be earning positive accounting profits.

B

It will be earning positive economic profits but zero accounting profits.

C

It will be earning zero economic profits but positive accounting profits.

D

It will be earning positive economic profits and positive accounting profits.

E

It will be earning zero economic profits but suffering accounting losses.

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