A positive aspect of monopolies is that they may aid innovation in the marketplace
a. True
b. False
Indicate whether the statement is true or false
True
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In January, buyers of gold expect that the price of gold will rise in February. What happens in the gold market in January, holding all else constant?
A) The quantity demanded increases. B) The supply curve shifts to the right. C) The demand curve shifts to the left. D) The demand curve shifts to the right.
A firm that practices multimarket price discrimination will set the lower price in the market that has the most elastic demand
Indicate whether the statement is true or false
Suppose an industry is composed of 10 firms. Each firm's share of total sales in the industry is 10 percent. If two of the firms merge, then the four-firm concentration ratio in the industry will
A) remain unchanged. B) decrease as there are fewer firms in the industry. C) increase. D) depend on the market condition faced by the industry.
A shortage of hospital beds will likely lead to
a. an increase in the supply of hospital beds. b. a decrease in the demand for hospital beds. c. an increase in the price of a hospital stay. d. a decrease in the price of a hospital stay. e. none of the above.