If a monopoly is earning positive economic profit in the short run, it ________ possible for the firm to earn positive economic profit in the long run as long as ________.
A) is; an insurmountable barrier exists
B) is not; an insurmountable barrier exists
C) is; average total cost exceeds the price
D) is not; marginal revenue equals the long-run marginal cos
A) is; an insurmountable barrier exists
You might also like to view...
John Blumenbach was the first European scientist to classify humans into races
Indicate whether the statement is true or false
After the mass extinction event 65 million years ago, ________ underwent an adaptive radiation.
A. the placentals B. the monotremes C. the marsupials D. the multituberculates
Big City Java is a local coffee bar. Using Excel, the manager of Big City Java estimates the weekly demand function for their grand mocha coffees to be Qd = 650 - (15.25 × P). The estimated regression equation suggests that if Big City Java increased its price of grand mocha coffees from $6 to $8, the predicted quantity demanded of coffees would ________.
A) increase B) decrease C) not change D) exactly double
At Moche, activities on top of the Huaca del la Luna were associated with the accumulation of domestic refuse, whereas the summit of the Huaca de Sol was swept clean and decorated with painted murals.
Answer the following statement true (T) or false (F)