If the long-run Phillips curve is vertical, then any government policy designed to lower

Deterring entry might require a firm to

A) price their product closer to the competitive price than to the monopoly price. B) price their product closer to the monopoly price than to the competitive price. C) drop output almost to zero to show the consumers "who's boss." D) drop price almost to zero to get price below marginal cost.

Rent seeking reduces our economy's overall efficiency by

a. getting government to adopt legislation that actually reduces production b. disseminating market information c. lowering taxes d. getting voters more interested in politics e. reducing equity