Which of the following statements is TRUE?
A) Perfectly competitive markets are efficient, but monopoly markets never are efficient.
B) Perfectly competitive markets always reach equilibrium but monopoly markets never reach equilibrium.
C) Perfect price discriminating monopolists can eliminate all deadweight losses and achieve efficiency.
D) All the above statements are true.
C
Economics
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According to the fundamental identity of national income accounting, income and output are identical. Why, then, is national income not equal to GDP?
What will be an ideal response?
Economics
Coffee and tea are:
a. complements. b. substitutes. c. inferior goods. d. unrelated goods. e. nonmarket goods.
Economics