Answer the following statements true (T) or false (F)
1. Market demand and the firm’s demand curve coincide in a monopoly.
2. The AR and MR curves of a monopoly are identical.
3. A monopoly can sell all that it desires at any given price.
4. The demand for the product of a monopolist is perfectly inelastic.
5. A monopoly cannot suffer a loss.
1. TRUE
2. FALSE
3. FALSE
4. FALSE
5. FALSE
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The initial impact of the Fed's open market sale of government securities to banks is
A) an increase in the quantity of money by some multiple of the dollar volume of the sale. B) an increase in bank deposits at the Fed. C) a decrease in the quantity of money by some multiple of the dollar volume of the sale. D) a decrease of the banking system's reserve deposits at the Fed.
Unions have been consistent supporters of quotas in hiring
Indicate whether the statement is true or false
The absolute price elasticity of demand for good X is 1.2 when price is measured in dollars. If price were measured in cents, the price elasticity elasticity of demand would equal
A) 1200. B) 12. C) 1.2. D) 0.012.
According to the Bureau of Labor Statistics' survey, which category represents the largest expense for the typical urban family?
a. Housing. b. Food and beverages. c. Transportation. d. Medical care.