A Monopoly ________ Make Positive Economic Profit in the Long

question 14

Multiple Choice

A monopoly ________ make positive economic profit in the long run because ________.

• A)can;barriers to entry prevent other firms from entering the market and sharing the profit
• B)cannot;eventually demand will decrease and prices will fall
• C)cannot;other firms will enter the market until all firms are making zero economic profit
• D)can;new technology constantly lowers costs for the monopoly firm and for its competitors
• E)can;demand constantly increases and price constantly rises

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Definitions:

Employee Empowerment

The practice of giving employees the authority and autonomy to make decisions and take actions that affect their work.

Knowledge Workers

Employees whose primary capital is knowledge, such as programmers, pharmacists, architects, engineers, scientists, design thinkers, public accountants, lawyers, and academics, whose job is to "think for a living."

Outsourcing

The practice of hiring external firms or individuals to perform tasks, handle operations or provide services that are either difficult to manage or are outside the company's expertise.