A monopoly firm makes only normal profit in the long run.
What is MOST LIKELY to explain this?
Select ONE answer:
- The firm has decreasing long-run average costs.
- The firm is a public company with numerous shareholders.
- The firm is owned by a small number of financial institutions.
- The market in this industry is highly contestable.
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS4 and KS5 classes.
The answer is 4
- Not correct
- Not correct
- Not correct
- Correct
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