Suppose That a Profit-Maximizing Monopoly Firm Experiences a Substantial Technological

question 140

Multiple Choice

Suppose that a profit-maximizing monopoly firm experiences a substantial technological change that reduces its marginal and average total costs by $40.If the firm has been operating for over 10 years, it probably:

• A) had negative economic profits.
• B) had zero economic profits.
• C) had positive economic profits.
• D) was unable to estimate its own profits.

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Definitions:

Nursing Services

Professional care and medical assistance provided by licensed nurses.

Demand For Accountants

The need or desire for professionals skilled in maintaining and interpreting financial records within a market or economy.

Earnings

The amount of profit that a company produces during a specific period, which is of interest to shareholders and potential investors.

Shortage Of Nurses

A situation in the healthcare sector where the demand for nursing staff significantly exceeds the supply, leading to strains on healthcare services.