Economic profits are not possible in the short run in:
A) purely competitive markets.
B) monopolistically competitive markets.
C) purely competitive and monopolistically competitive markets.
D) none of the above.

Question

Quizplus · Accepted Answer

In the short run, firms in purely competitive and monopolistically competitive markets can earn economic profits or losses. Economic profits are not guaranteed to be impossible in the short run for these market structures.

Economic Profits Are Not Possible in the Short Run In