If a firm in a monopolistically competitive market has a demand curve that is shifting to the right, it will stop shifting when:
A. firms stop leaving the market.
B. firms stop entering the market.
C. the firm raises its price.
D. the firm lowers its price.
Answer: A
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There are two divorce laws, A and B. Under A, it takes only one person to agree to a divorce and the divorce is granted. Under B, it takes two persons to agree to a divorce before it is granted. According to Coase,
A. there will be the same number of divorces under both laws if transaction costs are zero. B. there will be more divorces under law A. C. there will be more divorces under law B. D. taxes should be imposed on those parties who seek divorces. E. subsidies should be granted to those persons who unwillingly get divorces.
Which of the following is not one of the functions of the Federal Reserve?
a. Clearing checks. b. Printing currency. c. Supervising and regulating banks. d. Controlling the money supply.
Which of the following serve as automatic stabilizers?
a. Transfer payments b. Prices c. Imports d. All of the above serve as automatic stabilizers e. None of the above serve as automatic stabilizers
A monthly growth rate of 0.5% is an annual growth rate of:
A. 6.50% B. 6.17% C. 5.00% D. 6.00%