An option allowing the holder to buy an asset in the future is a

The income that people earn in resource or factor markets is called:

a. national income. b. personal income. c. disposable personal income. d. transfer payments. e. net national product.

The monopolist's outcome in the long run differs from that of the perfectly competitive firm in that it:

A. has zero profits in the long run. B. charges a price above average total costs. C. charges a price where marginal costs equal average revenue. D. charges a price equal to MC.