Economists have developed broad and narrow definitions to identify monopolies. what is a characteristic that supports a firm being classified as a monopoly? economists could find that a firm is a monopoly if

a. it achieves allocativeallocative efficiency.
b. it produces a smallsmall quantity.
c. it earns profits in the long run.
d. its production decisions are unresponsive to price.
e. it is a price taker.

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.