Which statement is true about monopolies?
A. They face the demand curve of the entire industry and provide the entire industry supply.
B. They do not face the demand curve of the entire industry.
C. They do not provide the entire industry supply.
D. None of these statements are true about monopolies.
A. They face the demand curve of the entire industry and provide the entire industry supply.
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Because transactions deposits can be withdrawn at any time, banks are exposed to
A) credit risk. B) liquidity risk. C) trading risk. D) interest risk.
Consumers tend to maximize:
a. marginal utility. b. marginal utility per dollar. c. total utility. d. money holdings. e. consumer surplus.
A good example of a merit good is
a. community colleges b. national security c. lighthouse d. sewer systems e. traffic lights
Suppose the price of a box of pop tarts is $3. If Michael is willing to pay $4 for that box of pop tarts, his consumer surplus when he buys a box of pop tarts is:
A. $0. B. $1. C. $2. D. $3.