In long run the monopolist can earn abnormal profit because of

Related MCQs

• If the monopolist incurs losses in the short run, then in the long run
• If the monopolist incurs loss in the short run, then in the long run
• In the long run, a competitive firm can earn
• In the short run, a monopolist will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is
• The imposition of a maximum price at the point where the monopolist’s SMC curve intersects the D curve causes the monopolist to
• A monopolist produces 14,000 units of output and charges Rs.14 per unit. Its marginal revenue is Rs.8, its marginal cost is Rs.7 and rising, its average total cost is Rs.10, and its average variable cost is Rs.9. The monopolist should
• In the long run, a monopolistically competitive firm earn
• In the short-run, a competitive firm can earn
• If price is equal to average cost, in the short-run, the competitive firm can earn
• If price is greater than average cost, in the short-run, the competitive firm can earn