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8 April, 09:28

Which of the following is a characteristic of a monopoly but not a characteristic of a perfectly competitive market?

A) A monopoly is a price-taker.

B) A monopoly produces an efficient level of output

C) A monopoly may earn long-run economic profits.

D) A monopoly has no market power.

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Answers (1)
  1. 8 April, 10:37
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    C) A monopoly may earn long-run economic profits.

    Explanation:

    A monopoly earn long-run profits because of the exitence of high barries to the entry of the competence, therefore the monopolist avoid such competition and continue making long run economics profits.
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