In the Long Run, a Monopoly

question 301

Multiple Choice

In the long run, a monopoly

• A) will always earn zero economic profits.
• B) may earn positive economic profits due to entry barriers.
• C) will never exit the industry.
• D) will yield an efficient outcome.

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Definitions:

Sexuality

The capacity for sexual feelings, activities, and orientations of an individual, playing a significant role in human life and relationships.

Affluent Societies

Societies that are financially prosperous, with a majority of its members enjoying a high standard of living.

Homophobia

The fear, hatred, discomfort with, or mistrust of people who are homosexual or the disapproval of homosexual behaviors or cultures.

Characteristic

A distinguishing trait, quality, or property that defines an individual, group, or thing.