​In the long run,in a competitive industry

A) ​economic profits are zero
B) firms break even
C) price equals average cost
D) ​all of the above

Competitive Industry

An industry characterized by many firms competing with each other by offering similar products or services, typically resulting in benefits for consumers through lower prices and higher quality.

Economic Profits

Economic profits represent the surplus revenue after all costs, including opportunity costs, have been deducted from total revenues, reflecting the real profitability of a venture.

Average Cost

The total cost of production divided by the quantity produced, used to determine the efficiency and profitability of production.