Which of the following does not necessarily apply to a pure monopoly?
A. The product the firm produces must have no close substitutes
B. The firm must be the sole producer of a product
C. The firm will charge the highest price possible
D. Entry must be blocked
C. The firm will charge the highest price possible
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Which of the following statements is true?
A) Randomization allows for classification of participants according to their choice. B) The subjects in the treatment group and the control group of an experiment are treated identically, except along a single dimension. C) Randomization is not used in medical experiments. D) The subjects in the treatment group and the control group of an experiment are identical in all respects and they are treated identically.
There is an inverse relationship between the amount of labor supplied and real wages
Indicate whether the statement is true or false