You've misinterpreted the result. With perfect competition, long run profits do tend to zero But 'profits' in this case do not mean accounting profits, but ra

You've misinterpreted the result. With perfect competition, long run profits do tend to zero But 'profits' in this case do not mean accounting profits, but rather economic profit, that is any residual return after all costs -- including the cost of capital in the form of interest or dividends.