Since it faces no competitors, a monopolist always makes a positive economic profit.Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.aTruebFalse
Question
Since it faces no competitors, a monopolist always makes a positive economic profit.Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.aTruebFalse
Solution
bFalse
While it's true that monopolists do not face direct competition, this does not guarantee that they will always make a positive economic profit. There are several factors that can affect a monopolist's profits, including market demand, production costs, and government regulation. For example, if a monopolist faces high production costs or if market demand for their product is low, they may not make a positive economic profit. Additionally, government regulation can also limit a monopolist's ability to set prices and make profits.
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