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Author Question: The main reason a monopolist can earn long-run economic profit, whereas a perfectly competitive firm ... (Read 85 times)

future617RT

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on: Jun 30, 2018
The main reason a monopolist can earn long-run economic profit, whereas a perfectly competitive firm cannot, is that
 a. monopolists operate under economies of scale
  b. perfectly competitive firms have opportunity costs
  c. demand for the monopolist's output is inelastic
  d. demand for the monopolist's output is elastic
  e. there are no barriers to entry in perfect competition

Question 2

The Sherman Antitrust Act makes it unlawful for firms to collude to restrain trade.
 a. True
  b. False


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amynguyen1221

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Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

A


future617RT

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  • Posts: 543
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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