Whenever a firm can charge a price greater than marginal cost
A) the firm must be a monopolist.
B) consumers have the ability to choose a close substitute.
C) there is some loss of economic efficiency.
D) the firm will earn economic profits.
C
Economics
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According to the text, the federal government spends the most taxpayer-provided funds regulating which area of the economy?
A) the environment B) finance and banking C) consumer safety and health D) transportation
Economics
Economic modeling requires
A) mathematics. B) logic. C) calculus. D) trigonometry.
Economics