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:

Balance Per Books

The amount shown in a company's accounting records, as opposed to the actual cash balance or balance reported by a bank.

Cash Disbursement Transactions

Financial activities involving the payment of cash from a business to vendors, employees, or other entities.

Authorized

Refers to having official permission or approval, often in the context of legal or financial operations that have been ratified or sanctioned by a governing body or higher authority.