The Primary Reason Why a Monopoly Can Make a Long-Run

question 256

Multiple Choice

The primary reason why a monopoly can make a long-run economic profit is the existence of

• A) barriers to entry.
• B) inelastic demand.
• C) price discrimination.
• D) many buyers.

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Definitions:

Erik Erikson

A developmental psychologist known for his theory on the psychosocial development of humans.

Temperament

The aspects of an individual's personality, such as introversion or extroversion, that are believed to be innate rather than learned.

Brain Maturation

The process of development and growth of the brain, which includes the refinement of neural pathways and synaptic connections.

Timid

Showing a lack of courage or confidence; easily frightened.