public good, a private good, a natural monopoly good, or a common resource, and explain your classification. • A car licence • A cinema

10 Monopoly profits do NOT serve any "socially useful" purpose because: Select one: E of a. Each of these is a reason why monopoly profits are not socially useful. b. the monopolist's profits are not "competed away". C. the monopolist's profits do not incentivize new investment and a reallocation of resources into the market. d. entry barriers prevent new firms from entering the market to compete with the monopolist.

Below are businesses and a series of questions. Please help me fill in the table.  You will have to use the answers to the questions to figure out which market type each business fits into.    Below are the potential answers to questions 3 through 9 on the table.:   POTENTIAL ANSWERS 3. Size of Market Global, National, Regional, Local 4. Number of Buyers Many or Few 5. Number of Sellers Many, Few or One 6. Product Type Identical, Differentiated, Unique 7. Barriers to Entry High, Medium or Low 8. If high, why? Control Over Resources, Economies of Being Established, Economies of Scale, Legal Barriers (patents, licenses, ect.), Required Scale for Innovation, Economies of Platform 9. Market Type Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly Here's an Example Table Below: 1. Business Bank of America 2. Industry Banking 3. Size of Market National 4. Number of Buyers Many 5. Number of Sellers…

Public goods area. efficiently provided by market forces.b. underprovided in the absence of government.c. overused in the absence of government.d. a type of natural monopoly.