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Abnormal profits exist in the long run only under _______.
  • a)
    Perfect Competition 
  • b)
    Monopoly 
  • c)
    Monopolistic Competition 
  • d)
    Oligopoly
Correct answer is option 'B'. Can you explain this answer?
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Abnormal profits exist in the long run only under _______.a)Perfect Competitionb)Monopolyc)Monopolistic Competitiond)OligopolyCorrect answer is option 'B'. Can you explain this answer?
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