The Firm’s Long Run Supply Curve In the long run, all inputs are variable and a firm will leave an industry if it is earning negative economic profits. In the long run, a profit-maximizing firm will produce only if total revenue is greater than or equal to total costs The firm’s ...
A monopoly firm is currently earning a positive economic profit, and the owner decides to sell it. He asks for a price that takes into account the economic profit. Explain and show diagrammatically what a price that takes into account economic pro...
Most likely they are earning about the same or more from live-concerts, which are not protected by intellectual monopoly and do not benefit from it either. When creative effort takes place and yet the reward it collects via the IP system is minor, the case for intellectual monopoly is weak...