Does a competitive advantage lead to abnormal profit?
I would say yes. For example, consider a perfect competition scenario, with equilibrium price $p$.
Now say (only) one firm acquires some organizational capital that allows them to have lower their marginal cost from $c(=p)$ to $\tilde c &lt; c$.
This firm can charge price $p^-$ and aquire the whole market now, earning abnormal profits $\pi = (p^- - \tilde c)q$.