Long-run economic profits would most likely exist in which market structure(s)?

Question

Quizplus · Accepted Answer

Long-run economic profits are most likely to exist in market structures where barriers to entry restrict competition. Monopoly and oligopoly are the market structures where firms enjoy market power due to high barriers to entry, allowing them to earn long-run economic profits. In monopolistic competition, firms have some degree of market power, but entry barriers are relatively low, leading to lower profits in the long run. Therefore, only monopoly and oligopoly are the market structures where long-run economic profits are most likely to exist.

Long-Run Economic Profits Would Most Likely Exist in Which Market