Which of the following is true?
a. Monopolists, monopolistically competitive firms and perfectly competitive firms all earn positive economic profits in the long run.
b. Monopolists, monopolistically competitive firms and perfectly competitive firms all earn zero economic profits in the long run.
c. Only monopolists and monopolistically competitive firms, but not perfectly competitive firms, can earn positive economic profits in the long run.
d. Monopolists, monopolistically competitive firms and perfectly competitive firms can potentially all earn positive economic profits in the short run.
Question 2
The _____ is both a forum where farmers decide what their dues will purchase, and an organization that informally coerces payments from them.
a. beekeeper's cooperative
b. government cooperative
c. beekeeper's association
d. farmer's association
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