Perfectly competitive firms and monopolists are different because ...

[Shelles]

Perfectly competitive firms and monopolists are different because
 a. in perfect competition MC = P, while a monopolist produces where P > MC.
  b. in perfect competition MC = P, while a monopolist produces where MC > P.
  c. in perfect competition P > MC, while a monopolist produces where MC = P.
  d. in perfect competition MC > P, while a monopolist produces where MC = P.

Question 2

If international trade is restricted by the government of a country:
 a. the domestic consumers are benefited.
  b. the domestic producers are adversely affected.
  c. the domestic consumers pay higher prices for imported goods.
  d. the resources are equally distributed among domestic and foreign producers.
  e. the resources are allocated to their highest paid uses.

[joshbk44]

Answer to Question 1

a

Answer to Question 2

c

[Shelles]

YES! Correct, THANKS for helping me on my review

[lkanara2]

Thanks for the timely response, appreciate it