For a monopoly in long-run equilibrium,economic profits are likely to be:
A) Greater than zero.
B) Zero.
C) Less than zero.
D) Predatory.

Name: For a monopoly in long-run equilibrium,economic profits are likely to be: A) Greater than zero. B) Zero. C) Less than zero. D) Predatory.
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Question

Quizplus · Accepted Answer

In a monopoly, the firm has market power, allowing it to set prices above marginal costs, leading to economic profits greater than zero in the long run.

For a Monopoly in Long-Run Equilibrium,economic Profits Are Likely to Be