Based on the headline "Russia's Sable Monopoly Persists" you could predict that
A)Output is more than it would be in a competitive sable market.
B)Long-run economic profit is positive in the sable market.
C)The sable market is contestable.
D)Sable producers are franchise monopolists.

Question

Quizplus · Accepted Answer

A monopoly, such as the one described in the headline, typically results in long-run economic profits because the monopolist can set prices above marginal costs due to lack of competition.

Based on the Headline "Russia's Sable Monopoly Persists" You Could