A monopolist can earn a positive economic profit, even in the long run.

Maximizing the level of output for a given total cost of production

A) necessitates using only relatively low-priced inputs. B) will maximize total revenue. C) is equivalent to producing the profit maximizing output level. D) is equivalent to minimizing cost for a given level of output.

Bond coupon payments represent

A) dividends paid to owners. B) interest on the amount borrowed. C) capital gains for tax purposes. D) payments to preferred shareholders.