The demand curve a monopoly faces is
A) horizontal.
B) vertical.
C) upward sloping.
D) downward sloping.
D
You might also like to view...
An inframarginal positive externality _____
a. requires subsidization to reach an optimal level of output b. requires regulation to reach an optimal level of output c. requires corrective taxation to reach an optimal level of output d. requires no action because the optimal level of output has been reached
If British real GDP rose relative to U.S. real GDP, there would be
a. a rightward movement along the supply of British pounds curve in the dollar-pound market b. a leftward movement along the supply of British pounds curve in the dollar-pound market c. a rightward shift of the supply of British pounds curve in the dollar-pound market d. a leftward shift of the supply of British pounds curve in the dollar-pound market e. the tendency for the supply of British pounds curve to become flatter in the dollar-pound market
Which statement is true?
A. Poor people generally receive Social Security benefits. B. Medicaid is an "in-kind" benefit paid to poor people. C. Nearly all of the poor receive public assistance. D. None of these statements are true.
According to the invisible hand theorem, as stated in the text,
A. even non-competitive markets are able to achieve Pareto efficient outcomes. B. an equilibrium produced by competitive markets will exhaust all gains from exchange. C. non-market forces can prevent the markets from guiding consumers to the contract curve. D. government interaction is sometimes needed as an invisible hand to lead the economy toward efficiency.