A firm with positive accounting profit may be suffering an economic loss.
a. True
b. False
Question 2
Which of the following is not true of monopolists?
a. The entry of new firms is not a major concern.
b. Monopolists seek to maximize profits.
c. Monopolists can charge any price they want and make a profit.
d. Monopolists can choose any point on the market demand curve.
e. Monopolists can raise price more than 10 percent.
