A barter arrangement essentially means

In a monopolistically competitive market, the lower the firms' fixed costs,

A) the higher the deadweight loss. B) the less firms are active in equilibrium. C) the more firms are active in the equilibrium. D) the higher the prices charged.

The owner of a patented invention

A) may or may not have a legal monopoly. B) is guaranteed a profit since her idea cannot be copied. C) will always have demand high enough and costs low enough to ensure a profit. D) will only earn a profit if average total cost is less than price.