Which one of the following about a monopoly is false?
A) A monopoly status could be temporary.
B) A monopoly could make profits in the long run.
C) A monopoly could break even in the long run.
D) A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly.
D
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A single-price monopolist
a. has absolute control over price. b. can sell all it desires at a given price. c. must lower price in order to sell more. d. always has an elastic demand.
One reason a country might choose a fixed exchange rate is
A) to reduce inflation and promote a stable economic environment. B) to reduce the impact of economic shocks. C) to rid themselves of the pressure of monetary management. D) that it is easier for all citizens to understand.
Monetary policy credibility has the benefit of ________
A) stabilizing inflation in the short run when faced with positive demand shocks B) stabilizing economic activity in the short run when faced with positive demand shocks C) transmitting the effect of aggregate demand shocks onto short-run aggregate supply D) enhancing the job opportunities of Federal Reserve officials after they leave the central bank
Technological improvements in coal mining will
A) increase the price of coal. B) decrease the price of coal. C) increase the interest rate. D) decrease the interest rate.