Question: Interpret this dialogue: A: How can competitive profits be zero in the long run? Who will work for nothing? B: It is only excess profits

Interpret this dialogue:

A: "How can competitive profits be zero in the long run? Who will work for nothing?"

B: "It is only excess profits that are wiped out by competition. Managers get paid for thire work; owners get a normal return on capital in competitive long-run equilibrium-no more, no less."

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