Author Question: Unregulated monopolies can often make an economic profit in the long run because A) they receive ... (Read 167 times)

abarnes · **on:** Jun 29, 2018

Unregulated monopolies can often make an economic profit in the long run because

A) they receive government subsidies.
B) they have high costs.
C) barriers to entry prevent competing firms from entering the market.
D) the risks of running a monopoly are high.

Question 2

Ernie's Earmuffs produces 200 earmuffs per year at a total cost of 2,000 and 400 of this cost is fixed. What is Ernie's average total cost?

A) 12
B) 10
C) 8
D) 2