Which one of the following characteristics is not shared by single-price monopoly and monopolistic competition?

Question

Quizplus · Accepted Answer

Monopolistic competition leads to zero economic profit in the long run because of the presence of close substitutes and easy entry and exit, whereas single-price monopoly can make positive economic profit in the long run due to the absence of competition. Therefore, the characteristic "firms make an economic profit in the long run" is not shared by single-price monopoly and monopolistic competition.

Which One of the Following Characteristics Is Not Shared by Single-Price