Monopolies can make an economic profit in the long run because of
A) rent seeking by competitors.
B) the elastic demand for the monopoly's product.
C) the cost-savings gained by the monopoly.
D) barriers to enter the monopoly's market.
D
Economics
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A public policy that would lower everyone's income but would lower the income of the rich faster than that of the poor would further the goal of _____
a. improving the lot of those worse off b. social justice c. income equality d. Pareto optimality
Economics
When you purchase a new set of spurs you do so in the
A) resource market. B) product market. C) input market. D) factor market.
Economics