If a monopoly is earning positive economic profit in the short run, it ______possible for the firm to earn positive economic profit in the long run as long as ______

Question

Quizplus · Accepted Answer

Monopolies can sustain positive economic profits in the long run if there are barriers to entry that prevent new firms from entering the market. An insurmountable barrier to entry ensures that the monopoly can maintain its market power and continue to earn economic profits over time.

If a Monopoly Is Earning Positive Economic Profit in the Short