Prior to health care reform, young people would pay approximately ____ of the premium it would cost an elderly person

An indication that the economy is in recession, e.g., a rise in the number of used clothing stores for babies, suggests that

a. used clothes for babies are a necessity b. used clothes for babies are an inferior good c. used clothes for babies are a normal good d. new clothes for babies are a luxury e. used clothes for babies have price-elastic demand

By keeping new firms from entering the market, oligopolies are more likely to have

a. long-run economic profit b. low prices c. great efficiency d. decreasing marginal costs e. economies of scale