Firms face downward sloping demand curves in
A) monopolies only.
B) monopolies and oligopolies only.
C) monopolies and oligopolies that collude only.
D) all market structures except perfect competition.
Answer: D
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An unstable inflation rate
a. always redistributes real income from lenders to borrowers. b. always redistributes real income from borrowers to lenders. c. adds to the risk of borrowing and lending and interferes with long-run financial planning. d. makes goods and services too expensive. e. always redistributes real income from taxpayers to the government.
Assume a country agrees to a free-trade act with another country. In the process, some individuals are displaced from their jobs, thus the free-trade act results in a negative externality
A) False B) True C) Only if those who were displaced are not compensated with another job or income transfer. D) Only if those who were displaced were compensated with another job or income transfer.
Suppose that when the price of pickles decreases, Teddy increases his purchase of ketchup. To Teddy,
A) pickles and ketchup and substitutes. B) pickles and ketchup are normal goods. C) pickles and ketchup are complements. D) pickles are a normal good and ketchup is an inferior good.
Why are checks and credit cards not money?
What will be an ideal response?