In Contrast to a Perfectly Competitive Firm, a Monopolist Earns

question 112

Multiple Choice

In contrast to a perfectly competitive firm, a monopolist earns:

• A) negative economic profit in the long run.
• B) zero economic profit in the long run.
• C) positive economic profit in the long run.
• D) earns positive economic profit in the short run.

---

Definitions:

Obscene Speech

Expression or content deemed offensive or morally unacceptable by societal standards, often subject to legal restrictions.

First Amendment

An amendment to the U.S. Constitution that guarantees freedoms concerning religion, expression, assembly, and the right to petition.

Establishment Clause

The provision in the First Amendment to the U.S. Constitution that prohibits Congress from creating any law “respecting an establishment of religion.”

Free Exercise Clause

A section within the First Amendment of the U.S. Constitution that prohibits the government from interfering with individuals' practice of their religion.