Which of the following is true for a monopolist?
a. The firm has a perfectly elastic demand curve.
b. The firm has a perfectly inelastic demand curve.
c. The straight-line demand curve is above the marginal revenue curve.
d. The marginal revenue curve is above the demand curve.
e. All of these.
c
You might also like to view...
The relationship between aggregate expenditures and disposable income is shown by the: a. aggregate expenditures curve
b. consumption function. c. investment curve. d. saving-disposable personal income curve.
A farm equipment retailer in Azerbaijan exchanges Azerbaijan manats (the currency of Azerbaijan) for $300,000 a bank in Azerbaijan was holding. It uses the $300,000 to buy farm equipment from a U.S. company. The U.S. company deposits half of these funds
in a U.S. bank and exchanges the other half for euros from a bank in London. As a result of these transactions, by how much, if at all, and in which direction did: A. U.S. net exports change? B. U.S. net capital outflow change?
With flexible exchange rates
A. The balance of trade is zero. B. The equilibrium exchange rate is determined in a foreign exchange market. C. All countries will run either a trade surplus or trade deficit. D. Foreign exchange reserves are used to offset balance-of-payment deficits.
A demand curve
A. is vertical for necessities, upward sloping for luxury goods, and downward sloping for all other goods. B. can slope up or down depending on the tastes of the consumer. C. slopes down because of the inverse relationship between price and quantity demanded. D. slopes up because of the direct relationship between price and quantity demanded.