Multiple choice

The super normal profits in the long run are

  1. possible in case of perfect competition.

  2. possible in case of monopolistic competition.

  3. possible in case of monopoly.

  4. never possible in any case.

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The monopolist can earn super normal profits in the long run. Super normal profits are not possible in any other market form in long run.