In the long run,
a. monopolies never earn economic profit
b. economic profits and losses determine entry and exit into monopoly markets
c. monopolies may earn economic profit
d. competition always destroys monopoly
e. government always regulates monopoly
C
Economics
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Develop a simple model of inflation by identifying at least two exogenous variables and describing, briefly, how the value of these exogenous variables will impact the rate of increase in the overall level of prices in the economy
What will be an ideal response?
Economics
A tax system that applies a lower marginal tax rate at higher levels of income is
A) progressive. B) regressive. C) proportional. D) flat.
Economics