In considering how to allocate its scarce resources among its various members, a household considers
a. each member's abilities.
b. each member's efforts.
c. each member's desires.
d. All of the above are correct.
d
Economics
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Unregulated monopolies can often make an economic profit in the long run because
A) they receive government subsidies. B) they have high costs. C) barriers to entry prevent competing firms from entering the market. D) the risks of running a monopoly are high.
Economics
Which of the following would be most likely to have monopoly power?
a. an online bookstore b. a municipal water company c. a local restaurant d. a grocery store
Economics