A profit maximizing monopolist
A) is guaranteed to lose money because of a lack of competition.
B) is not guaranteed to make a positive profit.
C) is guaranteed to make a positive profit, hence the desire to be a monopolist.
D) is guaranteed to make a non-negative profit, otherwise government would step in to assist.
B
Economics
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An unequal distribution of income is considered fair according to Robert Nozick if
A) marginal cost equals marginal benefit. B) the cost of administering a welfare system is minimized. C) property rights are enforced and voluntary exchange occurs. D) the economy is producing its maximum total output. E) resources are allocated using the command method.
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What is the function of the World Bank?
What will be an ideal response?
Economics