A pure monopoly may generate economic profits because ________.
A. marginal revenue is constant as sales increase
B. of barriers to entry
C. of rising average fixed costs
D. of advertising
Answer: B
Economics
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Which of the following statements is correct?
A) Federal Reserve district banks are owned by the government. B) Member banks receive no return on the stock they own in Federal district banks. C) Federal Reserve district banks pay dividends on their earnings to member banks. D) The boards of directors of the district banks are all local bankers.
Economics
A free trade agreement plus a common set of tariffs toward non-members is called
A) a common market. B) a customs union. C) a free trade area. D) an economic union.
Economics