Which of the following statements with respect to the monopolist is FALSE?
A) A monopolist can make higher profits if it can price discriminate.
B) A monopoly tends to result in a lower quantity being sold than perfect competition does.
C) Monopoly is a situation in which a single firm dominates.
D) A monopoly arises in a situation with few barriers to entry into the marketplace.
Answer: D
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If a yet-to-be released video game receives a positive review in a popular gaming magazine,
A) the demand curve is expected to shift to the right. B) the demand curve is expected to shift to the left. C) the demand curve is not expected to change. D) for those who read the review, demand shifts to the left. For those who don't read the review, demand shifts to the right.
Once people hear what the majority of individuals like them are doing, they are most likely going to choose:
A. something better, because they typically want to be special. B. something slightly worse, because they don't want to be taken advantage of. C. the same, because they typically don't like to be outliers. D. None of these is likely.
One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women
a. True b. False Indicate whether the statement is true or false
Economists are concerned with ______ behavior.
a. industrial b. human c. chemical d. government