Based on the headline "Russia's Sable Monopoly Persists" you could predict that
A. The sable market is contestable.
B. Sable producers are franchise monopolists.
C. Output is more than it would be in a competitive sable market.
D. Long-run economic profit is positive in the sable market.
Answer: D
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The demand curve for the product of a monopolistic competitor is
A) downward sloping. B) horizontal. C) vertical. D) unitary elastic.
When a country specializes and trades with other countries, it is most likely that it specializes in goods for which
A) it has a comparative advantage. B) it has an absolute advantage. C) it has no advantage. D) are very costly to produce.
A profit-maximizing firm in a ________ market structure behaves much like a monopolistic firm in the short run.
A. Cournot duopoly B. perfectly competitive C. monopolistically competitive D. All of the above are correct.
Suppose the Federal Reserve System has a required reserve ratio of 0.20. If the Open Market Committee sells $10 billion of securities to the commercial banking system, then before the money multiplier takes effect, initially excess reserves
A. Increase by $10 million. B. Increase by $50 billion. C. Decrease by $10 billion. D. Decrease by $50 billion.