« previous next »

Author Question: Why can a monopoly earn economic profits in the long run?[br][br][b][color=red]Question ... (Read 29 times)

armygirl

  • Hero Member
  • *****
  • Posts: 556
on: Jun 30, 2018
Why can a monopoly earn economic profits in the long run?

Question 2

Which of the following is a characteristic of an indifference curve?
 a. Positive slope.
  b. Concave shape.
  c. Negative slope.
  d. Zero slope.


skipfourms123

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

Because a monopoly experiences very strong barriers to entry, keeping potential competitors out of its market, it can earn economic profits in the long run. Barriers to entry may include economies of scale, financial and technological barriers to entry, sole ownership over a strategic resource, and even government laws and regulation.

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern
Economic activity as viewed by environment and ecological economists Economic activity as viewed by environment and ecological economists
Answer to physics question from Youtube Answer to physics question from Youtube
economic question economic question
Segregation of alleles for seed color Segregation of alleles for seed color
Video: Subunits of DNA And Semi Conservative Replication

For a complete list of videos, visit our video library