The figure above shows the market for college education in the United States. The efficient quantity of college education is ________ students per year

Normal profit is defined as

a. accounting profit b. economic profit c. profit necessary to ensure that opportunity costs are covered d. accounting profit minus economic profit e. economic profit minus accounting profit

An oligopoly is a market: a. dominated by a few buyers. b. dominated by one buyer

c. dominated by a few sellers. d. with many sellers.