The Monopolist Is Able to Enjoy Profits in the Long

question 109

Multiple Choice

The monopolist is able to enjoy profits in the long run because:

• A) the firm's price is set above its marginal costs.
• B) there is no threat of competition.
• C) the firm can charge a price higher than its average total costs in the long run.
• D) All of these statements are true.

---

Definitions:

Advanced Practice Registered Nurse

A nurse with post-graduate education in nursing, qualified to provide patient care at a level beyond that of a registered nurse.

Learned Associations

Connections made between certain stimuli or between behaviors and consequences, foundational to the process of learning.

Negative Reinforcement

The removal of a stimulus following a given behavior in order to increase the frequency of that behavior.

Avoidance Learning

An organism’s learning that it can altogether avoid a negative stimulus by making a particular response.