Econ questions. Please help!?

How will short run economic profits affect a firm’s economic profits in the long run? Why?
Does it matter what market structure the industry operates in? Why?
Can firms in all market structures earn economic profits in the long run? Why/why not?

Answer:
If short run goes up, long run should go up. Long-run is a summation of all short run profits.

Yes. The more barriers to entry in a market, the longer the period a company can extract the extra (increased) profits. Barriers will mean it will take time for others to come into the amrket and bring the profit level back to a long run equalobrium.

No. Perfect competition will drive it down to the noo profit level. In the economic sense.

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