-The monopolist in Figure 10-32 is currently operating in
A)the short run.
B)the long run.
C)the short run or the long run.
D)the very long run.

Question

-The monopolist in Figure 10-32 is currently operating in
A)the short run. 
B)the long run. 
C)the short run or the long run. 
D)the very long run.

Quizplus · Accepted Answer

A monopolist can operate in either the short run or the long run, as the distinction depends on whether the firm can adjust all inputs or only some. The question does not provide specific information to determine a unique time frame, so both are possible.

-The Monopolist in Figure 10-32 Is Currently Operating in