Pure monopoly markets are very common in the real world.
Answer the following statement true (T) or false (F)
False
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Coco chocolate manufacturers recently decided to "gift" one of its retailers a refrigerator. Why would it want to do that?
a. To ensure the retailer knowledge of their generosity b. To ensure the retailers knowledge of their quality c. To ensure the freshness of the product that reaches their consumers d. To ensure the retailers decrease in price
Which of the following changes in the exchange rate represents an appreciation of the dollar?
a. 100 yen = $1 to 90 yen = $1 b. 1 yen = $.10 to 1 yen = $.08 c. 1 peso = $10 to 1 peso = $11 d. 200 francs = $10 to 190 francs = $10
Which of the following statements is true of sharecropping?
a. It is an inefficient arrangement if the work of the farmer is not monitored. b. The higher the profit to the landowner, the higher the share of the farmer. c. Both the farmer and the landowner will work to maximize farm profits. d. The higher the profit to the landowner, the lower the share of the farmer.
Which of the following is a likely result of a subsidy?
a. An increase in the revenue received by a government b. An increase in the subsidized economic activity c. An increase in equilibrium market price d. An increase in net social welfare