Most people believe that monopolies always have excessive profits, yet some unregulated monopolies might have very low earnings.
(a) Why might a monopoly have little or no economic value? Explain.
(b) If you were given a chance to enter a perfectly competitive industry, or a monopolistic industry, which would you choose? Explain

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The Answer of Most people believe that monopolies always have excessive profits, yet some unregulated monopolies might have very low earnings.
(a) Why might a monopoly have little or no economic value? Explain.
(b) If you were given a chance to enter a perfectly competitive industry, or a monopolistic industry, which would you choose? Explain

Most People Believe That Monopolies Always Have Excessive Profits, Yet