Multiple Choice
Profits of a monopoly are driven to zero
A) In the long-run as all assets are mobile in the long-run
B) Immediately in the short-run as assets move from low-valued uses to high-valued uses instantly
C) In the long run because the demand curve becomes more inelastic
D) In the short run because the demand curve becomes more elastic
Correct Answer:
Verified
Correct Answer:
Verified
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