Which of the following statements is TRUE?
A) An increase in the price of gasoline will decrease the demand for gasoline.
B) An increase in the price of gasoline will increase the quantity demanded of gasoline.
C) An increase in the price of gasoline will increase the supply of gasoline.
D) An increase in the price of gasoline will increase the quantity supplied of gasoline.
D
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A single-price monopoly
A) must practice price discrimination. B) can lower its price for only a few select consumers if it wants to increase its sales. C) will set its price equal to a consumer's willingness to pay. D) must lower the price for all customers if it wants to increase its sales. E) is able to raise its price as high as it wants and consumers must still buy from it because it is a monopoly.
A higher nominal money supply is equally demanded, given each level of income, at a ________ interest rate, meaning that the LM curve has shifted to the ________
A) higher, left B) higher, right C) lower, left D) lower, right
If the short run aggregate supply curve is flat, the Phillips curve will be
a. flat b. steep c. horizontal d. upward sloping
In the above figure, the monopolist's profit-maximizing price is
A. A. B. B. C. C. D. D.