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Profit for purely competitive firms in the long run

Profit for purely competitive firms tends in the direction of zero in the long run since: (w) managers resist charging more than a fair price. (x) firms collude to charge prices which barely cover average costs. (y) profit attracts entry, whereas losses cause existing firms to leave industries. (z) pure competition is subject to government price regulations.

Please guys help to solve this problem of Economics with some explanation.

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