Below are eight descriptions of firms operating under various market conditions. for each item, determine whether the market is a monopoly or a market with perfect competition.
items:
a. a firm in this market has no competitors
b. a firm in this market produces where p = mc
c. a firm in this market produces where p > mc
d. a firm in this market cannot earn long-run economic profits
e. a firm in this market is one of many small competitors
f. a firm in this market may earn long-run economic profits
g. a firm in this market has significant market power

Partnerships are the most common type of business firms in the world. t/f

What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?