Which of the following do a monopolist and a competitive firm generally have in common?
A. predatory pricing
B. barriers to entry
C. marginal cost pricing
D. the quest for profits
Answer: B. barriers to entry
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The good produced by a monopoly
A) has perfect substitutes. B) has no substitutes at all. C) has no close substitutes. D) can be easily duplicated. E) must be unable to be resold.
Assume that the actual inflation rate is 3 percent, the target inflation rate is 3 percent, and that the percentage difference between actual and potential real GDP is 2 percent. According to the Taylor rule, the federal funds rate target should be
A) 3.5 percent. B) 6.5 percent. C) 5.5 percent. D) 5.0 percent.
Tara buys four music cassettes when the price is $10 and two cassettes when the price is $14 . Her price elasticity of demand is:
a. 0. b. 1. c. 2. d. 3. e. 4.
Calculate the inflation rate for a country where the GDP deflator rises from 120 to 165