Long run economic profits are possible in which of the following market structures? Oligopoly Monopolistic competition Monopoly

Name: Long run economic profits are possible in which of the following market structures? Oligopoly Monopolistic competition Monopoly
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Question

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In the long run, economic profits can be sustained in oligopoly and monopoly due to barriers to entry and market power. Monopolistic competition, however, tends to have zero economic profit in the long run due to the ease of entry.

Long Run Economic Profits Are Possible in Which of the Following