The monopolist, unlike the perfectly competitive firm, can ...

[jazziefee]

The monopolist, unlike the perfectly competitive firm, can continue to earn an economic profit in the long run because of:
 a. collusive agreements with competitors.
  b. price leadership.
  c. cartels.
  d. a dominant firm.
  e. extremely high barriers to entry.

Question 2

If total utility increases from 10 to 15 for the second unit of a good consumed, the marginal utility of the second unit is 25.
 a. True
  b. False
  Indicate whether the statement is true or false

[ricroger]

Answer to Question 1

e

Answer to Question 2

False