Why is the distinction between long run and short run less important in monopoly markets?
What will be an ideal response?
Because of barriers to entry, monopoly firms can continue to earn economic profit in the long run.
Economics
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____________ is the change in total cost that results from a one unit increase in output
Fill in the blank(s) with the appropriate word(s).
Economics
An increase in the amount of capital in the economy will shift the demand curve for labor to the left
Indicate whether the statement is true or false
Economics