Monopolies can earn positive profits
a. In the long run only
b. Until they disappear due to new entry
c. In the short run only
d. None of the above
b
Economics
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Laws that are used to prevent firms from colluding and setting high prices are called
A) anti-trust laws. B) price ceiling laws. C) anti-cartel laws. D) anti-competition policies.
Economics
A good that is both excludable and rivalrous is a(n):
a. public good. b. club good. c. private good. d. inferior good. e. necessary good.
Economics