In the Long Run, a Monopoly

question 301

Multiple Choice

In the long run, a monopoly

• A) will always earn zero economic profits.
• B) may earn positive economic profits due to entry barriers.
• C) will never exit the industry.
• D) will yield an efficient outcome.

---

Definitions:

Substantial

of considerable importance, size, or worth; significant.

Refurbish

The process of cleaning, renovating, or updating an item, particularly to restore it to a good condition or improve its functionality.

Terminated

Brought to an end or concluded, which can apply to contracts, employment, or any other agreement.

Security Company

A business that provides services related to the protection of physical property and assets, including surveillance, alarm systems, and private security personnel.