If an idea has not been implemented because a monopoly producer has placed a barrier to entry, the circumstances are not normal due to:
A. intervention.
B. innovation.
C. market failure.
D. goals other than profit.
Answer: C
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In addition to shifting its demand curve to the right, a firm may engage in advertising in order to
a. make its demand curve more elastic b. increase the elasticity of its supply curve c. discourage competition d. make its demand curve less elastic e. decrease consumer awareness
The clearest sign of inflation would be a(n)
A. increase in the price level. B. increase in the quantity of total final output. C. decrease in the quantity of total final output. D. simultaneous increase in both output and prices.
Money can be many things, but it is not:
A. a financial asset. B. a financial liability. C. liquid. D. illiquid.
Refer to the information provided in Figure 34.1 below to answer the question(s) that follow.
Figure 34.1Refer to Figure 34.1. What is the MPC in this economy?
A. 0.5 B. 0.75 C. 0.8 D. cannot be determined from the graph