In long run the monopolist can earn abnormal profit because of
A) blocked entry
B) high selling price
C) low cost
D) economies of scale
Correct Answer:
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Q15: When demand curve is elastic, MR is
A)1
B)0
C)positive
D)negative
Q16: The best or optimum level of output
Q17: Which type of competition leads to maximum
Q18: In the short run, the monopolist
A)breaks even
B)incurs
Q19: The demand for the product of a
Q20: If the monopolist incurs loss in the
Q21: Which of the form of monopoly regulation
Q22: The monopolist who is in
A)short run equilibrium
Q24: Price discrimination under monopoly is of
A)one
B)two
C)three
D)four
Q25: The market in which there is a
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