To maximize its profit, the monopoly with the TR and TC curves shown in the figure above will produce

Easy entry and exit cause oligopoly profits to be zero in the long run

a. True b. False Indicate whether the statement is true or false

The pursuit through government of a "transfer of wealth" at someone else's expense refers to:

A. logrolling. B. rent-seeking behavior. C. the paradox of voting. D. the median-voter model.