Asked by

Mirlande Brande
on Nov 05, 2024

verifed

Verified

A monopolist is not guaranteed positive economic profits solely because it is a monopoly since there may be no output for which

A) TR = TVC.
B) TR > TC.
C) MC = MR.
D) ATR < MR.

Positive Economic Profits

Positive economic profits occur when a firm's total revenues exceed its total costs, inclusive of both explicit and implicit costs.

Monopolist

An entity that is the sole provider of a particular product or service in the market, possessing the power to significantly influence prices and supply.

  • Gain insight into the concept of economic profit and how it contrasts among monopolistic enterprises and those in competitive environments.
verifed

Verified Answer

VW
Victoria WaltersNov 07, 2024
Final Answer:
Get Full Answer