Critics argue that monopolistically competitive markets are wasteful because A. price exceeds marginal cost and minimum average total cost. B. there are too few firms in the industry. C. consumers do not benefit from product differentiation. D. due to large economies of scale, there should only be one firm in the market.

What do economists mean when they use the latin expression ceteris paribus?

Type of deposit reserve requirementcheckable deposits $7.8 - 48.3 million 3%over $48.3 million 10noncheckable personal savings and time deposits 0refer to the accompanying table. if a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are$1.2 million.

Congressman patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. discuss the position of the congressman, giving consideration to tax rate structures (e.g., progressive, proportional, and regressive) and the concept of equity.