In the 1950s, the National Football League (NFL) had a virtual monopoly because _____________.
Fill in the blank(s) with the appropriate word(s).
it had control over an essential resource
Economics
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In the short run, an increase in demand for a good that is sold in a perfectly competitive market
A) increases the number of firms in the market. B) increases the economic profits of existing firms in the market. C) has no effect on the price. D) causes more firms to shut down.
Economics
The above figure shows the marginal benefit and marginal cost curves for a public good. The quantity that has the best prospect of winning in an election by well-informed voters is
A) A. B) B. C) C. D) zero units supplied.
Economics