The demand curve a monopolist faces is
A) horizontal.
B) the industry demand curve.
C) vertical.
D) inelastic at all points.
Answer: B
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Credit card balances are not considered to be money primarily because they
A. are not part of people's wealth. B. are an asset used in making transactions. C. are rarely used to make purchases. D. do not represent an obligation to pay someone else.
Is it possible for the average fixed cost curve to have the shape depicted above? Explain
What will be an ideal response?
Keynes thought that expectations are
a. a function of current income. b. predictable and stable. c. an important determinant of consumption. d. unpredictable and influences planned investment.
A movement from one point to an another point on the same consumption function could be caused due to
a. changes in wealth. b. an increase in the general price level. c. decrease in the real interest rates. d. changes in disposable income.