A monopolist can make an economic profit in the long run because of
A) the relatively elastic demand for its product.
B) the relatively inelastic demand for its product.
C) the firm's price setting behavior.
D) barriers to entry.
D
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Which of the following acts was/were designed to take out the risk in the securities industry?
(a) Truth in Securities Act of 1933 (b) Fair Labor Standards Act of 1938 (c) Social Security Act of 1935 (d) All of the above
Tina's marginal utility of her first piece of cake is 15, while Jerry's marginal utility of his first piece of cake is 24 . An economist would conclude that:
a. Tina likes cake more than Jerry likes cake. b. Jerry likes cake more than Tina likes cake. c. Tina likes cake less than Jerry likes cake. d. Jerry likes cake less than Tina likes cake. e. we can't make a comparison to see who values cake more.