Explain market equilibrium when no. Of firms happen to increase or decrease in market and only normal profits are earned

Dear Student,

The case that is discussed in the question is a long run concept. This topic ​is explained in detail in our study material. You can refer to the same following the below mentioned link and scroll down to the topic 'Explanation of Long Run Market Equilibrium'.

https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/market-equilibrium/338_1984_5823#slide3_market-equilibrium-with-free-entry-and-exit-shifts-in-demand

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