Government licensing of occupations or trades
A) has usually been created over the objections of sellers in the licensed industry.
B) is more often supported than opposed by the persons and firms to be regulated.
C) is usually supported by legislators because they want to protect consumers against inferior-quality products.
D) will not reduce competition if it merely imposes higher costs on potential entrants into the occupation or trade.
B
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Monetary policy has ________ impact on the long-run Phillips curve
A) a positive B) no C) a negative D) an unpredictable
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then profit maximization
A) is achieved when 21 units are produced. B) is achieved by setting price equal to 21. C) is achieved only by shutting down in the short run. D) cannot be determined solely from the information provided.