Which of the Following Factors Explains the Difference in Long-Run

question 110

Multiple Choice

Which of the following factors explains the difference in long-run profits earned by a monopolist and a perfectly competitive firm?

• A)Monopolists experience economies of scale.
• B)Perfectly competitive firms have high opportunity costs.
• C)The demand for the monopolist's output is perfectly inelastic.
• D)The demand for the monopolist's output is perfectly elastic.
• E)There are no barriers to entry in perfect competition.

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