Which of the following is most necessary for a monopolist to survive in the long run?
A) a legal protection from entry
B) a perfect product
C) a brilliant Chief Operating Officer
D) an excellent marketing campaign
A
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Which of the following statements is true of a monopolist's supply curve?
A) The supply curve is vertical. B) The supply curve is upward sloping. C) The supply curve is downward sloping. D) A monopolist does not have a supply curve.
Refer to Figure 16-12. An increase in government purchases of $200 billion causes aggregate demand to shift ultimately from AD1 to AD2
Assuming a constant price level, the difference in real GDP between point A and point B will be ________ $200 billion. A) less than B) greater than C) equal to D) There is insufficient information given here to draw a conclusion.
Asymmetric information problems are worse the __________ the borrowing firm, since there is __________ publicly available information about those firms
A) larger; more B) larger; less C) smaller; more D) smaller; less
If Isabella buys two goods and the prices of both goods decrease by 50%
A) the budget constraint will be unchanged. B) the slope of the budget constraint will increase. C) the slope of the budget constraint will decrease. D) the budget constraint will shift outward in a parallel fashion.