A monopolist can charge a high price if:
a. the quantity demanded of its product is positively related to price.
b. the demand for its product is relatively price-elastic.
c. the demand curve for its product is negatively sloped.
d. the demand for its product is relatively price-inelastic.
e. there exist a large number of substitutes for its product.
d
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A player's best response is
A) the strategy that maximizes his payoff given what he thinks the other player will do. B) a dominant strategy. C) impossible to find when there isn't a Nash equilibrium. D) a way to avoid the prisoners' dilemma.
Benefits of a project
A. can change over time. B. can be difficult to measure. C. should be larger than costs. D. are sometimes intangible. E. all of these answer options are correct.
Richards has filed quarterly reports to the SEC based on information supplied by management. A potential concern of such reliance is which of the following?
a. Privity only b. Liability to 3rd parties. c. Liability to foreseen 3rd parties only. d. Liability to reasonably foreseen 3rd parties only.
According to the median voter model, a candidate (in a two-person race) is more likely to label himself or herself a "middle-of-the-roader" than a conservative or liberal because
A) the terms "conservative" and "liberal" are offensive to many people in today's world. B) the terms "conservative" and "liberal" are considered terms used of people who are in the "wings" or "extremes" of the political distribution, and a candidate can only win an election by being perceived as closer to the center of the political distribution than his or her opponent. C) they receive better treatment by the press. D) it is customary and it has become a tradition in American politics. E) none of the above