When a person lobbies Congress to grant the person the exclusive right to sell a particular good, such lobbying activity is called

The study by economists Cox and Alm found that the 2006 after-tax income of the richest fifth of U.S. households is

a. equal to the after-tax income of the poorest fifth. b. 7 times the after-tax income of the poorest fifth. c. 14 times the after-tax income of the poorest fifth. d. 21 times the after-tax income of the poorest fifth.

When firms in a monopolistically competitive market engage in price-related advertising, defenders of advertising argue that

a. the quality of products sold in the market always increases. b. customers are less likely to be informed about other characteristics of the product. c. new firms are discouraged from entering the market. d. each firm has less market power.