Which of the following is most likely to be true of a monopoly in long-run equilibrium if it enjoys a patent and earns economic profit in the short run?

Name: Which of the following is most likely to be true of a monopoly in long-run equilibrium if it enjoys a patent and earns economic profit in the short run?
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Question

Quizplus · Accepted Answer

A monopoly with a patent can maintain its exclusive right to produce the patented product, allowing it to earn positive economic profits in the long run by preventing entry from competitors.

Which of the Following Is Most Likely to Be True