Monopolies can earn positive profits
a. In the long run only
b. Until they disappear due to new entry
c. In the short run only
d. None of the above
b
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When goods are available free of charge, the market forces that normally allocate resources in our economy are absent
a. True b. False Indicate whether the statement is true or false
Describe the operation of the Medicare program. Discuss who is covered under the program, how it is financed and the distinction between Part A and Part B of the program
What will be an ideal response?
The statement "It is better to suffer a little more unemployment than a little lower price" is an example of normative economic analysis
a. True b. False Indicate whether the statement is true or false
Workers who work the night shift at factories are paid more than similar workers who work the day shift due to a