42 Which of the following conditions are NOT necessary for a "pure monopoly"? a. A single seller b. Complete freedom of entry c. A differentiated product d. No freedom of entry 2 points QUESTION 43 The amount by which a firm's total revenue exceeds its total opportunity costs. a. Gain b. Income c. Expense d. Pure profit 2 points QUESTION 44 The relationship between changes in consumer income and quantity of an item that is purchased. a. Fierce curve b. Steep curve c. Eleanor curve d. Engel curve 2 points QUESTION 45 What curve for two products (enterprises) is used to describe the solution to the question of what to produce? a. Engel curve b. Production possibilities curve c. Demand curve d. Indifference curve 2 points QUESTION 46 Which of the following is NOT one of the three segments of an aggregate supply curve? a. Horizontal segment b. Descending segment c. Sloping segment d. Vertical segment 2 points QUESTION 47 Quantities of a commodity that all consumers are willing to purchase at different prices, in a given point of time. a. Engel curve b. Equilibrium c. Market demand curve d. Market supply