Which of the following market structures will have only normal profit in the long run?
A. Oligopoly.
B. Monopolistic competition.
C. Monopoly.
D. Duopoly.
Answer: B
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What will be an ideal response?
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What will be an ideal response?
A binding price floor creates
a. deadweight loss. b. consumer surplus. c. producer surplus. d. deadweight gain.
The sport where labor restrictions on player movement are the hardest to enforce is
A. Major League Baseball. B. NBA basketball. C. European soccer. D. NFL football.