Economic profit in the long run is: * 1 point
a. possible for both a pure monopoly and a pure...
Economic profit in the long run is: * 1 point
a. possible for both a pure monopoly and a pure competitor.
b. possible for a pure monopoly, but not for a pure competitor.
c. impossible for both a pure monopolist and a pure competitor.
d. only possible when barriers to entry are nonexistent.
Answers: 3
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