Author Question: At the profit-maximizing output, price is greater than marginal cost a. for a monopolistically ... (Read 31 times)

dbose · **on:** Jun 30, 2018

At the profit-maximizing output, price is greater than marginal cost
a. for a monopolistically competitive firm only in the short run
b. for a monopolistically competitive firm only in the long run
c. for a monopolistically competitive firm in both the short run and the long run
d. for a perfectly competitive firm only in the short run
e. for a perfectly competitive firm only in the long run

Question 2

Special-interest legislation that imposes costs broadly over many taxpayers can be enacted because
a. taxpayers benefit from this type of legislation
b. taxpayers remain rationally ignorant of the legislation
c. only the wealthy pay these taxes
d. these taxes are actually borne by a minority of taxpayers
e. the Constitution requires special-interest legislation