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.

---

Definitions:

Maze

A complex branching puzzle that includes paths and direction to be navigated by the solver to reach a goal or center.

Food Reward

The sense of pleasure derived from eating, which can motivate eating behaviors and is mediated by brain reward pathways.

Cognitive Processes

Mental activities involved in acquiring, storing, retrieving, and using information, including perception, memory, and reasoning.

Ivan Pavlov

A Russian physiologist known for his work in classical conditioning, famously demonstrating the phenomenon through experiments with dogs.