If an increase in the price of accordions does not change total revenue from accordion sales, we can infer that demand for accordions is inelastic.
Answer the following statement true (T) or false (F)
False
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Which of the following is true about monopolistic competition but false about perfect competition?
A) There is a large number of independently acting sellers. B) There are no barriers to entry. C) Firms can earn an economic profit in the short run. D) Firms compete on their product's price as well as its quality and marketing. E) Firms cannot earn an economic profit in the long run.
Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the deadweight loss
A) increases. B) decreases. C) remains the same. D) becomes infinite. E) probably changes, but more information is needed to determine if it increases, decreases, or remains constant.
Traditionally, laws of incorporation have been predominantly privileges of the states
Indicate whether the statement is true or false
Explain why returns on assets compensate for systematic risk but not for idiosyncratic risk.
What will be an ideal response?