A Monopoly May Continue to Make Economic Profits in the Long

question 302

True/False

A monopoly may continue to make economic profits in the long run because of the barriers to entry in its industry.

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Definitions:

Gizzard

Of birds and some other animals, a digestive chamber lined with a hard material that grinds up food.

Acidic Chyme

The partially digested, acidic food mixture that moves from the stomach to the small intestine.

Heartburn

A discomforting burning sensation in the chest, usually occurring after eating, caused by stomach acid refluxing back into the esophagus.

Sphincter

Ring of muscle in a tubular organ or at a body opening.