le $2,$ Analysis$)$: If we assume the market for extra large TVs is perfectly competitive, what kind of prediction can ake about the short$-$run and long$-$run effect of improved production technology on firm profits? improved technology will increase profits in the short run, but in the long run profits will be zero. improved technology will increase profits in the long run, but in the short run profits will be zero. mproved technology will increase profits in the short run as well as the long run. mproved technology will increase profits in the short run but decrease profits in the long run.