Regardless of the demand for its product, a monopolist will be able to earn positive economic profits.

Name: Regardless of the demand for its product, a monopolist will be able to earn positive economic profits.
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Question

Quizplus · Accepted Answer

A monopolist can earn positive economic profits only if the demand for its product is sufficient to cover its costs, including opportunity costs. If demand is too low, the monopolist may not be able to cover these costs and could incur losses.

Regardless of the Demand for Its Product, a Monopolist Will