A monopolized market is in long-run equilibrium when

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In a monopolized market, long-run equilibrium occurs when the monopolist produces at a point where long-run marginal cost (LRMC) equals marginal revenue (MR), ensuring profit maximization. Unlike perfect competition, a monopolist does not necessarily produce at a point where price equals long-run average cost (LRAC) or marginal cost (MC), allowing for the possibility of earning economic profits in the long run.

A Monopolized Market Is in Long-Run Equilibrium When