The actual income distribution might be more equal than current official figures suggest because current official figures ignore the return on human capital

Which of the following statements is TRUE?

A) All monopolists are perfect price discriminators. B) All monopolists earn short-run economic profits. C) A monopolist will leave the market if it incurs an economic loss in the long run. D) A monopolist does not need barriers to entry to sustain a long-run economic profit.

When residents surrounding an airport complain about noise from aircraft landings and takeoffs, the relevant economic analysis is that of

A. externalities. B. equality-efficiency trade-off. C. comparative advantage. D. the cost decrease of the service sector. E. the cost disease of personal services.