why can a monopoly make a positive economic profit even in the long run? a monopoly can make positive economic profit in the long run because _____.

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08-12-2022
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why can a monopoly make a positive economic profit even in the long run? a monopoly can make positive economic profit in the long run because _____.

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KanakKhatana KanakKhatana · Answer 1 · 2022-12-15T11:20:46+01:00

A monopoly can make positive economic profit in the long run because barriers to entry prevent other firms from entering the market and sharing the profit.

Why is it possible for a monopoly to generate economic profit over time?

Due to hurdles to entry, monopolists can eventually generate a profit. Monopolies result in a welfare loss because, at their profit-maximizing output level, the extra benefits of expanding output would outweigh the extra costs.

Even in the long run, businesses are prevented from joining the market by the presence of significant entry barriers. Because of this, it is possible for the monopolist to evade competition and carry on reaping long-term economic gains.

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