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Author Question: If an activity has an external benefit, such as education, a tax on that activity can lead to the ... (Read 121 times)

codyclark

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on: Jun 29, 2018
If an activity has an external benefit, such as education, a tax on that activity can lead to the efficient level of output being produced.
 
  Indicate whether the statement is true or false

Question 2

What factor(s) enable a monopoly to make an economic profit in the long run?
 
  What will be an ideal response?


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recede

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

Monopolies can make an economic profit in the long run because of barriers to entry. Barriers to entry keep other firms from entering the industry and driving down the price and profits.


codyclark

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Reply #2 on: Jun 29, 2018
Thank you :)


recede

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Reply #3 on: Jun 29, 2018
Happy to help you


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