Sizable economic profits can persist over time under monopolyif the monopolist a. produces that output where average total cost is at amaximum. b. is protected by barriers to entry. c. operates as a price taker rather than a price maker. d. realizes revenues that exceed variable costs. Sizable economic profits can persist over time under monopolyif the monopolist a. produces that output where average total cost is at amaximum. b. is protected by barriers to entry. c. operates as a price taker rather than a price maker. d. realizes revenues that exceed variable costs.
Explanation / Answer
B. Protected by barriers to entry because sizeable profitspersist under monopolies. A monopoly sole producer. Rate