Figure 11-7 -It Is Not True in the Long Run of Monopolies

question 77

Multiple Choice

Figure 11-7
-It is not true in the long run of monopolies that

• A)other firms seeking positive economic profit enter the market.
• B)they earn positive economic profit.
• C)they sell their output at a price greater than marginal cost.
• D)they benefit from barriers to entry.

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Definitions:

Tertiary Consumer

An organism that typically occupies the fourth trophic level in a food web, primarily consuming secondary consumers.

Carnivore

Consumer in a food chain that eats other animals.

Biogeochemical Cycle

A natural process involving the circulation and transformation of chemicals in the Earth's ecosystems.

Food Webs

Complex networks of predators and prey showing the feeding relationships between organisms within an ecosystem.