Economic profit in the long run is
A) possible for both a pure monopoly and a pure competitor.
B) possible for a pure monopoly but not for a pure competitor.
C) impossible for both a pure monopolist and a pure competitor.
D) only possible when barriers to entry are nonexistent.

Question

Quizplus · Accepted Answer

In the long run, a pure monopoly can maintain economic profit due to barriers to entry, while a pure competitor cannot, as competition drives profits to zero.

Economic Profit in the Long Run Is