The OPEC oil cartel has difficulty maintaining high prices in the long run because the supply of oil is more inelastic in the long run than in the short run

"Because of rent seeking, a monopoly may end up making zero economic profit." Is the previous statement correct or incorrect? Why?

What will be an ideal response?

Job search theory regards ________ unemployment as a socially valuable, productive investment undertaken by the job searcher

A) structural B) cyclical C) mismatch D) frictional