A market in which competition and entry are restricted by the granting of a public franchise, government license, patent, or copyright is called a
A) legal monopoly.
B) natural monopoly.
C) single-price monopoly.
D) price-discriminating monopoly.
A
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When you purchase a new pair of jeans you do so in the
A) factor market. B) resource market. C) input market. D) product market.
The demand for Nike shoes will be _________________ than the demand for shoes in general
a. More elastic b. More inelastic c. Less elastic d. Less inelastic
In the health insurance context, moral hazard occurs when patients make less healthy choices and doctors provide treatments that have little medical benefit because they know the costs will be covered by insurance.
Answer the following statement true (T) or false (F)
Miriam owns a small shop selling custom headbands and accessories, Last month, she sold 335 headbands for $10 each. According to the law of demand, what quantity might expect to If she drops the price to $6?
A. 415 B. 1.300 C. 290 D. 335