Long-run economic profits would most likely exist in which market structure?

A) monopoly, monopolistic competition, and oligopoly
B) monopoly and oligopoly
C) monopoly and monopolistic competition
D) monopoly only


Answer: B

Economics

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Indicate whether the statement is true or false

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A shift from LRAS1 to LRAS2 in Figure 17.6 indicates that

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In Figure 1.6, if the opportunity cost of producing cars was zero at all levels of production, the production possibilities curve would be best be represented by a

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Economics