Scarcity is a problem that will eventually disappear as technology advances

Which of the barriers to entry can last indefinitely and which are more likely to eventually erode such that a new entry can take place?

What will be an ideal response?

A monopolist earning economic profit in the short run determines that at its present level of output, marginal revenue is $23 and marginal cost is $30. Which of the following should the firm do to increase profit?

A. Raise price and lower output. B. Lower price and lower output. C. Raise price and raise output. D. Lower price and raise output.