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Finally, for completion we show a monopolist earning exactly
zero profits. Here Profit = TR (P* x Q*) - TC (ATC* x Q*) = 0. Another way to express this is Profit = (P* - ATC*) x Q* = 0.
This too is an equilibrium position, but as long
as there are barriers to entry long run profitability is also
an equilibrium. The difference here is that no barriers are required
when profits are zero. Still, what's the point of being a monopolist
if you don't earn more than you would in a competitive industry?
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