Large Barriers to Entry Are One Reason That a Monopoly

question 51

Multiple Choice

Large barriers to entry are one reason that a monopoly:

• A)earns an economic profit in the long run.
• B)produces at the minimum average total cost in the long run.
• C)produces with no fixed costs in the long run.
• D)maximizes its profits by producing where P = MC.

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Definitions:

Laboratory Rats

Rodents that are bred and kept for scientific research.

Ventromedial Hypothalamus

A part of the hypothalamus in the brain involved in regulating hunger, satiety, and the body's energy balance.

Glucose Levels

The concentration of glucose present in the blood, crucial for energy supply to the body's cells.

Neural Circuits

Networks of interconnected neurons that work together to perform specific functions or behaviors in the brain and nervous system.