A firm is able to make supernormal profits in the short run, but is only able to make normal profits in the long run. In

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A firm is able to make supernormal profits in the short run, but is only able to make normal profits in the long run. In

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A Firm Is Able To Make Supernormal Profits In The Short Run But Is Only Able To Make Normal Profits In The Long Run In 1
A Firm Is Able To Make Supernormal Profits In The Short Run But Is Only Able To Make Normal Profits In The Long Run In 1 (31.71 KiB) Viewed 36 times
A firm is able to make supernormal profits in the short run, but is only able to make normal profits in the long run. In which of the following market structures could this accurately reflect the position of the firm? (3 marks) (a) Only monopoly. (b) Only monopoly and monopolistic competition. (c) Perfect Competition, monopolistic competition and monopoly. (d) Perfect Competition, monopolistic competition and potentially oligopoly. depending on how firms are competing with each other.
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