Why Can a Monopoly Make an Economic Profit in the Long

question 208

Multiple Choice

Why can a monopoly make an economic profit in the long run?

• A) because there are close substitutes for the firm's product
• B) because the firm is protected by barriers to entry
• C) because the firm produces where MR=MC
• D) because P > MR
• E) All of the above are reasons why a monopoly can make an economic profit in the long run.

Know the process of indexing, coding, and cross-referencing documents for filing.

Master the final steps in the filing process and the importance of storage.

Identify the essential features and considerations for storing files and choosing storage facilities.

Grasping guidelines for arranging files in alphabetical order.

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Definitions:

Chief Administrators

High-ranking officials who manage and oversee the operations of government agencies or departments.

Congress

The legislative branch of the United States federal government, comprised of the House of Representatives and the Senate.

Formal Procedures

Official, established methods and processes designed to achieve a specific goal or to uphold standards.

APA

Administrative Procedure Act, governing the process by which federal administrative agencies develop and issue regulations.