Economists understand that using statistical discrimination

Which of the following programs would be opposed by philosopher John Rawls?

a. a negative income tax b. the Supplemental Security Income (SSI) program c. a tax plan creating a perfectly egalitarian income distribution d. Rawls would oppose all of the programs.

Which of the following statements best describes the price, output, and profit conditions of monopoly?

a. Price will equal marginal cost at the profit-maximizing level of output and profits will be positive in the long-run. b. Price will always equal average variable cost in the short-run and either profits or losses may result in the long run. c. All of the answers are correct. d. In the long-run, positive economic profit will be earned.