Firms in oligopoly can achieve an economic profit
A) always in the long run.
B) if they cooperate.
C) only if the demand for their products is inelastic.
D) only if the demand for their products is elastic.
E) if they reach the non-cooperative equilibrium.
B
Economics
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Unilateral transfers represent
A) the balance of services coming into a country. B) the balance of government bonds bought and sold by residents of a country. C) the balance of financial gifts—both private and public—entering and leaving a country. D) the balance of official transfers within an economy.
Economics
Define the term scarcity and discuss two of its consequences
Economics