Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A monopoly can make positive economic profit in the long run because A. new technology constantly lowers costs for the monopoly firm and for its

image text in transcribed
image text in transcribed
A monopoly can make positive economic profit in the long run because A. new technology constantly lowers costs for the monopoly firm and for its competitors B. other firms eventually exit the market until the one remaining firm is making an economic pro C. barriers to entry prevent other firms from entering the market and sharing the profit D. eventually demand will increase and prices will rise Roxie's Movie Theater is the only one in town. The table gives the demand schedule for movie tickets. Roxie's is a single-price monopoly and the marginal cost of showing a movie is $0 What is Roxie's movie ticket price and how many movie tickets a week will Roxie's sell? Roxie's will charge a movie ticket and will sell movie tickets a week. A. $12;200 B. $9;300 C. $6;400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Why and how are people different from one another?

Answered: 1 week ago