A privately owned monopoly will NEVER produce along a range of output for which
A) the demand curve is elastic.
B) the demand curve is inelastic.
C) the price elasticity of demand is greater than 1.
D) the price elasticity of supply is greater than 1.
B
You might also like to view...
Which of the following occurs when a consumer equilibrium has been achieved? a. The marginal utility of the last unit purchased is identical for all goods
b. The price of the last unit purchased is identical for all goods. c. An equal amount of income is spent on all goods purchased. d. The ratio of the marginal utility of each good divided by its price is equal across all goods consumed.
President Obama has suggested some form or universal health coverage for all Americans. How do you feel about this?
What will be an ideal response?
If resource prices are fixed and the selling price rises, then
A. profits will decrease. B. profits will increase. C. profits will remain constant. D. both profits and output will decrease.
A borrower who has to pay an interest rate of 8% rather than 6% due to risk spread will pay:
A. $20 more in interest annually for every $100 borrowed. B. 2% in net interest. C. less interest in total over the life of the loan. D. 33.3% higher interest in dollar terms.