Figure 11-7
-Monopolists may in the long run
A)earn positive economic profit.
B)be protected by barriers to entry.
C)grow wealthy at the expense of their consumers.
D)All of these responses are correct.

Question

Figure 11-7 
-Monopolists may in the long run
A)earn positive economic profit. 
B)be protected by barriers to entry. 
C)grow wealthy at the expense of their consumers. 
D)All of these responses are correct.

Quizplus · Accepted Answer

Monopolists can earn positive economic profit in the long run due to their market power, be protected by barriers to entry that prevent competition, and potentially grow wealthy at the expense of their consumers by charging higher prices or reducing output. Therefore, all of these responses are correct.

Figure 11-7 -Monopolists May in the Long Run