The key element in preserving a monopoly is keeping rivals out of the market
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose that there is only one small clothing store in the remote village of Green Acres, and until recently the townspeople bought their shirts there. As more people in Green Acres become connected to the Internet, the price elasticity of demand for shirts at the Green Acres store will:
A. increase because the Internet offers more substitutes. B. remain the same, but the quantity demanded will decrease as more people shop online. C. decrease because the Internet offers more substitutes. D. remain the same, but the demand will decrease as more people shop online.
Recall the Application about the effectiveness of committees in making decisions about monetary policy to answer the following question(s). Recall the Application. If the Federal Reserve was making a decision on changing interest rates:
A. the chairperson, acting alone, would typically make a better decision than the Board of Governors. B. the Board of Governors would typically make a better decision than the chairperson acting on his/her own. C. the Board of Governors would typically make an equally good decision as would the chairperson acting on his/her own. D. neither the Board of Governors nor the chairperson, acting alone, would tend to make accurate predictions.
Who controls a partnership?
A) the owners B) stockholders C) bondholders D) employees
Refer to the graph below. The amount of profit is measured by the difference between:
A. a and c
B. b and c
C. d and e
D. a and f