A monopolist can earn economic profits in the long run because
A) a monopoly is by definition large, and this gives it the ability to make large profits.
B) a monopoly makes the good or service better than anyone else.
C) barriers to entry prevent new firms from entering the industry.
D) monopolies can legally force people to buy their products and to pay more for them than they are worth.
Correct Answer:
Verified
Q32: A barrier to entry is
A) a term
Q33: The use of a tariff provides monopoly
Q34: If government regulations significantly increase the cost
Q35: Which of the following would NOT be
Q36: Smartphone companies protect their monopolies over new
Q38: All of the following are considered a
Q39: A natural monopoly usually arises when
A) there
Q40: According to the text, government licensing frequently
Q41: Considering the spectrum of market structures and
Q42: Which of the following is NOT true
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