To persist, a monopoly must:
a. be regulated.
b. set its price to eliminate the deadweight loss.
c. be a natural monopoly.
d. be protected by a barrier against the entry of other firms.
Ans: d. be protected by a barrier against the entry of other firms.
Economics
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Demand-pull inflation is due to:
a. minimum wage laws. b. labor cost increases. c. excess total spending. d. tax increase.
Economics
In constructing models, economists
A) consider all factors that can change. B) include all available information. C) attempt to duplicate the real world. D) make simplifying assumptions.
Economics