Which of the following is not associated with the monopoly market structure?
a. Many sellers.
b. A single seller.
c. A unique product.
d. Impossible entry into the market.
a
Economics
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A decrease in the demand for unskilled and skilled labor was a secondary effect of the productive use of fractional horsepower and internal combustion engines
Indicate whether the statement is true or false
Economics
The first-order conditions for maximizing profits, ? = P × F(K, L) - wL ? rK, are:
A. P × {?F(K,L)/?K} - r = 0 and P × {?F(K,L)/?L} - w = 0. B. VMPK = r and VMPL = w. C. P × MPK ? r = 0 and P × MPL ? w = 0. D. All of the answers are correct.
Economics