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C. T F The institution of owning private property is a barrier to entry. f. T F In a monopoly market with blocked entry, long-run
C. T F The institution of owning private property is a barrier to entry. f. T F In a monopoly market with blocked entry, long-run economic profits will always persist if consumer demand is strong. Justify your answer, B. T F (Ch.11) In a purely competitive industry, long-run economic profits may persist if consumer demand is strong. Justify your
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