A monopoly firm can make abnormal profits in the long run, but not a firm under monopolistic competition and perfect competition.

A monopoly firm can make abnormal profits in the long run, but not a f

1.	A monopoly firm can make abnormal profits in the long run, but not a firm under monopolistic competition and perfect competition.
Answer» <html><body><p></p>Solution :A monopoly <a href="https://interviewquestions.tuteehub.com/tag/firm-989667" style="font-weight:bold;" target="_blank" title="Click to know more about FIRM">FIRM</a> can make abnormal profits in the long run <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> to restrictions on <a href="https://interviewquestions.tuteehub.com/tag/entry-972873" style="font-weight:bold;" target="_blank" title="Click to know more about ENTRY">ENTRY</a> and exit. <a href="https://interviewquestions.tuteehub.com/tag/however-1032379" style="font-weight:bold;" target="_blank" title="Click to know more about HOWEVER">HOWEVER</a>, a firm under perfect competition and monopolistic competition cannot make abnormal profits due to <a href="https://interviewquestions.tuteehub.com/tag/freedom-999700" style="font-weight:bold;" target="_blank" title="Click to know more about FREEDOM">FREEDOM</a> of entry and exit.</body></html>