What happens in perfect competition in the long run?what happens?

Here is another perspective and a few other outcomes that may take place.

1. When there is perfect competition, the products in view will get better and better. Consider PC and Apple computers. The competition is fierce and both are coming out with better products.

2. The consumer gets more for his or her money. When there is competition, companies need to keep prices attractive, or else they will lose people. Hence, the consumer benefits.

3. There will be no monopolies, which is a good thing.