In contrast to a perfectly competitive firm, a monopolist earns:
a. negative economic profit in the long run.
b. zero economic profit in the long run.
c. positive economic profit in the long run.
d. positive economic profit in the short run.
c
Economics
You might also like to view...
If the government wanted to efficiently limit the emission of carbon monoxide by all firms to exactly 4 million tons it could
A) issue rights to pollute worth 4 million tons and let the firms trade those rights in a market. B) appeal to firms' environmental conscience to pollute less. C) subsidize production. D) rely on the Coase Theorem.
Economics
“Government-set prices undermine the rationing function of competitive prices.” Explain carefully in terms of both price ceilings and price floors
Please provide the best answer for the statement.
Economics