If a good or service has only one seller, then the seller is called a monopoly

A country with a large, relatively unskilled labor force using labor-intensive methods to grow crops is an example of

a. efficient use of scarce resources b. inefficient use of scarce resources c. a third-world country d. marginal costs

Refer to the table above. If the market for notebooks is perfectly competitive, the equilibrium price is:

A) $2. B) $3. C) $4. D) $5.