In the above figure, if the firm is in monopolistic competition, its price will be
A) $1.
B) $2.
C) $3.
D) $4.
C
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One reason why the "fast-casual" restaurant market is competitive is that
A) consumption takes place in public. B) demand for "fast -casual" food is very high. C) it is trendy and therefore is likely to have a customer following. D) barriers to entry are low.
Discovery of new gold in Alaska will ________ the ________ of gold, ________ its price, everything else held constant
A) increase; demand; increasing B) decrease; demand; decreasing C) decrease; supply; increasing D) increase; supply; decreasing
If nuts and bolts are complements, an increase in the price of nuts caused by a change in the supply of nuts will a. increase the number of bolts sold. b. decrease the demand for nuts c. increase the price of bolts
d. decrease the number of bolts sold
Which of the following statements is correct?
a. A general, persistent decline in stock prices may signal that the economy is about to enter a boom period because people will be able to buy stock for less money. b. A general, persistent decline in stock prices may signal that the economy is about to enter a recession because low stock prices may mean that people are expecting low corporate profits. c. A general, persistent decline in stock prices may signal that the economy is about to enter a recession because low stock prices mean that corporations have had low profits in the past. d. Expectations about the business cycle have no impact on stock prices.