Which of the following factors explain the difference in long-run profits earned by a monopolist and a perfectly competitive firm?
A)Monopolists experience economies of scale.
B)Perfectly competitive firms have high opportunity costs.
C)The demand for the monopolist's output is inelastic.
D)The demand for the monopolist's output is elastic.
E)There are no barriers to entry in perfect competition.

Question

Which of the following factors explain the difference in long-run profits earned by a monopolist and a perfectly competitive firm?​
A)Monopolists experience economies of scale.
B)Perfectly competitive firms have high opportunity costs.
C)The demand for the monopolist's output is inelastic.
D)The demand for the monopolist's output is elastic.
E)There are no barriers to entry in perfect competition.

Quizplus · Accepted Answer

The Answer of Which of the following factors explain the difference in long-run profits earned by a monopolist and a perfectly competitive firm?​
A)Monopolists experience economies of scale.
B)Perfectly competitive firms have high opportunity costs.
C)The demand for the monopolist's output is inelastic.
D)The demand for the monopolist's output is elastic.
E)There are no barriers to entry in perfect competition.

Which of the Following Factors Explain the Difference in Long-Run