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It's not that in perfect competition profit is impossible, it's that in perfect competition the rate of return of capital invested would equal the risk free rat
by omalleyt 11y ago
It's not that in perfect competition profit is impossible, it's that in perfect competition the rate of return of capital invested would equal the risk free rate + what are you compensated for the risk you are taking on. You wouldn't see the excess returns that come from rent-seeking behaviors