Higher long-run profit earned by monopolists relative to other firms is due to:
A) better management.
B) blocked entry into the market.
C) the Law of Diminishing Returns.
D) all of the above.

Question

Quizplus · Accepted Answer

Monopolists can earn higher long-run profits primarily because they can block entry into the market, preventing competition and maintaining control over prices and output.

Higher Long-Run Profit Earned by Monopolists Relative to Other Firms