For what market structures does supernormal profit occur in the long run?(Баллов: 2)perfect competitionmonopolistic competitionmonopoly
Question
For what market structures does supernormal profit occur in the long run?(Баллов: 2)perfect competitionmonopolistic competitionmonopoly
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Solution 1
Supernormal profit can occur in the long run in the following market structures:
- Monopolistic Competition: In the long run, firms in monopolistic competition can earn supernormal profits due to product differentiation. Each firm has a certain degree of market power which allows them to set their Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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