Which of the Following Statements Is True

question 24

Multiple Choice

Which of the following statements is true?

• A)Both a monopolist and a perfectly competitive firm earn zero economic profits in the long run.
• B)A monopolist earns zero economic profits, while a perfectly competitive firm earns positive economic profits in the long run.
• C)Both a monopolist and a perfectly competitive firm earn zero economic profits in the short run.
• D)Both a monopolist and a perfectly competitive firm earn positive economic profits in the long run.
• E)A monopolist earns positive economic profits, while a perfectly competitive firm earns zero economic profits in the long run.

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