Technical superiority can be a source of entry barriers.
Answer the following statement true (T) or false (F)
True
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When a monopolist increases the quantity that it sells, price decreases, which, all else equal, decreases total revenue; this is called the price effect
a. True b. False Indicate whether the statement is true or false
The Board of Governors of the Federal Reserve System is
A. appointed by the Congress. B. appointed by the President with approval of the U.S. Senate. C. elected by members of the American Banking Association. D. elected by the public.
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.
Figure 5.7The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.Refer to Figure 5.7. Before the tax, store owners are willing to sell ________ pumpkins at a price of ________ each.
A. 1,200; $5.50 B. 1,200; $8.50 C. 700; $7.25 D. 0; $8.50
Refer to the diagram, in which Q f is the full-employment output. If the economy's current aggregate demand curve is AD 0 , it would be appropriate for the government to:
A. reduce government expenditures and taxes by equal-size amounts.
B. reduce government expenditures or increase taxes.
C. increase government expenditures or reduce taxes.
D. reduce unemployment compensation benefits.