Refer to the above table. What is the market quantity demanded of DVDs at a price of $12?
A) 6
B) 9
C) 12
D) 24
D
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Which of the following changes would cause American net exports to increase?
A) An increase in the real value of the dollar B) An increase in American income C) An increase in foreign income D) A shift in demand by American consumers away from domestically produced goods
Many people believe that a monopolist can set his own price which consumers have little recourse but to pay, and thereby reap enormous profits. Is this true?
Identify which item is not one of the six parts of the financial system.
A. Credit cards B. Financial institutions C. Financial markets D. Central banks
Which of the following statements about a monopolistically competitive firm is FALSE?
A) It tries to differentiate its product from that of competitors. B) It may earn short-run economic profits. C) It produces the quantity at which MC=MR. D) It sets price like a perfectly competitive firm.