If monopolists are able to produce fewer goods and sell them at a higher price than they could under perfect competition, the result will be
A. elimination of barriers to entry
B. irregularly high unsustainable profits.
C. government deregulation.
D. abnormally high sustained profits.
Answer:D
If monopolists are able to produce fewer goods and sell them at a higher price than they could under perfect competition, the result will be
A. elimination of barriers to entry B. irregularly high unsustainable profits. C. government deregulation. D. abnormally high sustained profits.
Explanation: 32. The two primary factors determining monopoly market power are the firm’s