Which of the following regarding a monopolist is INCORRECT?
A) The monopolist is a single supplier of a good or service.
B) The monopolist constitutes the entire industry.
C) Only expensive products are produced by monopolies.
D) There are barriers to entry that allow monopoly.
C
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Given a typical demand curve and a decline in price, the consumer who wishes to maximize total utility must increase the quantity purchased of a good to arrive at an optimal MU = P point.
Answer the following statement true (T) or false (F)
The international financial crisis of 2007 was the result of
A) failure of the Euro currency. B) runaway inflation in the U.S. C) a deep global recession. D) the collapse of global currency markets. E) defaults on U.S. mortgage-backed securities.
An example of fiscal policy would be government:
A. increasing the amount of available educational grants. B. decreasing the income tax. C. increasing corporate income taxes. D. increasing money supply.
Tariffs are government policies designed to encourage international trade
a. True b. False