A monopoly's economic profit is protected by the lack of entry of new firms even in the long run.

Name: A monopoly's economic profit is protected by the lack of entry of new firms even in the long run.
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Question

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A monopoly's economic profit is protected by barriers to entry such as high start-up costs, exclusive access to resources, or legal restrictions, which prevent new firms from entering the market and competing, thus preserving the monopoly's economic profits in the long run.

A Monopoly's Economic Profit Is Protected by the Lack of Entry