There are similarities between the profit-maximizing behaviour of monopoly firms and the rent-maximizing behaviour of a governing elite. In a dictatorship _______(i)______, whereas for a monopoly ____(ii)_____.

Select one:

a.

(i) tax and other government revenues are considered as the main source of personal income; (ii) rents are eliminated by competition among firms

b.

(i) rents are eliminated by competition among parties; (ii) rents are eliminated by competition among firms

c.

(i) tax and other government revenues are considered as the main source of personal income; (ii) sales are restricted and buyers are charged more than marginal cost

d.

(i) there is substantial threat of removal from office; (ii) there is limited threat by new entrants