When a firm earns more than enough revenue to pay all of the costs, including the opportunity
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When a firm earns more than enough revenue to pay all of the costs, including the opportunity costs of owners and/or investors, then we can expect others to . If it is relatively easy for others to enter a business and begin competing with the profitable firm, then we know that economic profit will be driven to by competition.
If the profitable firm has or does something that creates the profit that others cannot easily mimic, then economic profit will be . Only when that special something can be mimicked or replaced will economic profit be driven to . If the government provides a license to operate the business, which only the profitable business has been able to get, then we expect the profitable firm to earn a positive economic profit for how long?
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