This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The main reason a monopolist can earn long-run economic profit, whereas a perfectly competitive firm ... (Read 97 times)

future617RT

  • Hero Member
  • *****
  • Posts: 543
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

amynguyen1221

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

A


future617RT

  • Member
  • Posts: 543
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Jossy

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o
Economic and Social Development Economic and Social Development
The Economic Way of Thinking The Economic Way of Thinking
economic question economic question
economic question economic question
economic question economic question
Video: Chemical Buffers - protein buffer, phosphate buffer system and bicarbonate buffer system

For a complete list of videos, visit our video library