Which of the following is not true of a pure monopoly?
a. Demand is negatively sloped
b. Marginal revenue is less than price therefore the firm should consider raising its price until marginal revenue equals demand
c. Marginal revenue is less than average revenue therefore the firm should consider adjusting its quantity until marginal revenue equals average revenue
d. It is a price taker
e. Its position is protected by significant barriers to entry
D
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The horizontal axis in a graph
A) measures time in a scatter diagram. B) measures the quality of a variable. C) is named the y-axis. D) is named the x-axis.
If the economy unexpectedly went from inflation to deflation,
a. both debtors and creditors would have reduced real wealth. b. both debtors and creditors would have increased real wealth. c. debtors would gain at the expense of creditors. d. creditors would gain at the expense of debtors.
If the Fed expects currency holdings to fall, it conducts open market ________ to offset the expected ________ in reserves
A) purchases; increase B) purchases; decrease C) sales; increase D) sales; decrease
In what type of analysis could an increase in the tax rate lead to a decrease in tax revenues?
A) ad valorem taxation B) excise taxation C) dynamic tax analysis D) static tax analysis