The above figure shows the U.S. market for flip-flops. When there is no international trade, the U.S. price is ________ per flip-flop and the U.S. quantity is ________ flip-flops

Why might economists prefer private ownership of monopolies over public ownership of monopolies?

A corn farmer is likely to have a _____________ price elasticity of supply than does a tree farmer due to ________________.

A. more elastic; a more flexible production process B. less elastic; a more flexible production process C. less elastic; a less flexible production process D. more elastic; a less flexible production process