In an equilibrium in otherwise identical markets, producer ...

[Tirant22]

In an equilibrium in otherwise identical markets, producer surplus is higher for a monopolist than for a competitive firm.
  Indicate whether the statement is true or false

Question 2

The theory of the long-run in perfect competition helps to provide a rationale for the belief in a limited role for government in society.
 a. True
  b. False
  Indicate whether the statement is true or false

[Brummell1998]

Answer to Question 1

T

Answer to Question 2

True