question archive Unregulated monopolies can often earn an economic profit in the long run because A
Unregulated monopolies can often earn an economic profit in the long run because A
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Unregulated monopolies can often earn an economic profit in the long run because
A. they have high costs.
B. barriers to entry prevent competing firms from entering the market.
C. they receive government subsidies.
D. the risks of running a monopoly are high.
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Unregulated monopolies can often earn an economic profit in the long run because B. barriers to entry prevent competing firms from entering the market.
The barriers to entry might be legal, such as a patent or copyright on the item being sold, Barriers to entry might also be control of the resources needed to manufacture the product, or economies of scale, which means that a single large business is the best solution for the economy as a whole.
