In the Long Run, Which of the Following Is Not

question 191

Multiple Choice

In the long run, which of the following is not a problem for a monopolist earning economic profit?

• A)other firms have an incentive to create substitutes for the monopolist's product
• B)technological change tends to break down barriers to entry
• C)patents expire, licenses must be renewed, and new sources of essential resources may be discovered
• D)government often decides to regulate monopolies
• E)all profit will gradually be converted to consumer surplus

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