In the long run,when there are economic profits,firms enter the industry,which will increase the market supply and increase the price until economic profits are zero.

Economic Profits

The excess of total revenue over total costs, including both explicit and implicit costs, in economics.

Market Supply

The total amount of a good or service that producers are willing and able to sell at varying price points, at a given time.

Long Run

An economic phase characterized by the variability of all production inputs and expenses.