In the Long Run, a Single-Price Monopolist Will

question 512

Multiple Choice

In the long run, a single-price monopolist will

• A) make zero economic profit.
• B) be able to continue to make an economic profit as long as the market remains a monopoly.
• C) end up being regulated by the government because it is making short-run economic profits.
• D) Both answers A and C are correct.

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Definitions:

Reinforcer

Any stimulus or event that increases the likelihood of a behavior being repeated, which can be positive (adding something desirable) or negative (removing something aversive).

Desired Response

The specific behavior that is sought after in a behavioral intervention or training program.

Effectiveness

The degree to which something is successful in producing a desired result or outcome.

Response Differentiation

A process in operant conditioning where behaviors are modified by being reinforced only when they meet a certain criterion.