Author Question: Compared to a monopolistic competitor, a monopoly producer who was currently earning economic ... (Read 77 times)

dollx

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Compared to a monopolistic competitor, a monopoly producer who was currently earning economic profits:
 a. would face a more elastic demand curve.
 b. would face a less elastic demand curve.
 c. could continue to earn economic profits for a longer period of time.
  d. would be characterized by both (b) and (c).

Question 2

According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:
 a. a utility maximizer.
  b. a free rider.
  c. an opportunist.
  d. a profit maximizer.



amandalm

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Answer to Question 1

d

Answer to Question 2

B



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