Other things being equal, which market structure is most likely to yield the greatest industry long-run economic profit?

Question

Quizplus · Accepted Answer

In a monopoly, the firm has complete control over the market and is able to set prices higher than its costs, leading to the greatest industry long-run economic profit compared to other market structures. In perfect competition, firms have no control over the market and must sell at the market price, leading to no economic profit in the long run. In monopolistic competition and oligopoly, there is some control over the market, but not enough to generate the same level of economic profit as a monopoly.

Other Things Being Equal, Which Market Structure Is Most Likely