Costs that pertain to finding a trading partner and making a trade are called
A) transaction costs.
B) transgression costs.
C) consumption costs.
D) transaction taxes.
A
Economics
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In the long-run, surviving firms in monopolistic competition earn:
a. higher pure economic profits. b. zero pure economic profits. c. below-normal profits. d. substantial economic losses.
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Describe the law of diminishing marginal utility. On what assumptions is this law based?
Please provide the best answer for the statement.
Economics