The entry of a second firm shifts the demand curve of the original firm to the left ?, so that at each price the original firm will sell a decreased quantity.

A policy that results in slow and steady growth of the money supply is an example of

a. an "easy" monetary policy. b. a "passive" monetary policy. c. a "practical" monetary policy. d. an "active" monetary policy.

Suppose quantity demanded is 2,000 when price is $10 and 3,000 when price is $5. If a monopolist who was initially charging a price of $10 discovers a way to price-discriminate, it will be able to increase revenue from $20,000 to:

A. $25,000 by charging consumers with less elastic demands only $5 and keeping the price for consumers with more elastic demands at $10. B. $35,000 by charging consumers with less elastic demands only $5 and keeping the price for consumers with more elastic demands at $10. C. $35,000 by charging consumers with more elastic demands only $5 and keeping the price for consumers with less elastic demands at $10. D. $25,000 by charging consumers with more elastic demands only $5 and keeping the price for consumers with less elastic demands at $10.

The nondiscriminating pure monopolist's demand curve:

A. is the industry demand curve. B. tends to be inelastic at high prices and elastic at low prices. C. is identical to its marginal revenue curve. D. shows a direct or positive relationship between price and quantity demanded.

A price floor that is set above market equilibrium will cause

A) an excess quantity demanded. B) a shortage. C) a surplus. D) queuing on the part of consumers.