Because Monopolists Are Protected by High Barriers to Entry, They

question 58

Multiple Choice

Because monopolists are protected by high barriers to entry, they:

• A) may be able to earn long-run economic profits.
• B) will not minimize the per-unit cost of producing their output.
• C) will price their product at the highest possible price.
• D) seek economic profit; however, they are not able to earn it in the long run.

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