Pure monopoly is not studied because of its descriptive realism, but because it is a stepping stone toward more realistic models

According to the law of diminishing returns,

a. Some productions factors are fixed b. All inputs are variable c. All inputs are fixed d. None of the above

In a planned socialist economy, the dictator should dislike:

a. Horizontal transactions b. Monetary policy c. Ruble control d. Fiscal policy e. All of the above