ince it faces no competitors, a monopolist always makes a positive economic profit.Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.aTruebFalse
Question
ince it faces no competitors, a monopolist always makes a positive economic profit.Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.aTruebFalse
Solution
bFalse
While a monopolist can potentially earn positive economic profits, it is not guaranteed. Economic profit takes into account both explicit and implicit costs, including opportunity costs. If these costs are high, a monopolist could still end up with zero or negative economic profit. Additionally, other factors such as government regulation, market demand, and price elasticity can also affect a monopolist's profits.
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