Since a monopolist has a unique product, it makes no sense for the firm to advertise.
Answer the following statement true (T) or false (F)
False
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In a given year, ________ of smartphone or tablet owners will pay for any apps
A) only about one-third B) almost 90 percent C) about 75 percent D) less than 15 percent
Which statement is true?
A. Our rate of productivity increase was greater in the 1980s than the 1960s. B. The key to productivity growth is an increasing labor force. C. Rising productivity could come about with the same output from fewer units of input. D. We have a higher growth rate than the Chinese even though they have a higher savings rate.
If a firm in a perfectly competitive market raises its price
A) it will sell more products. B) it will sell fewer products. C) its sales will remain unchanged. D) it will sell nothing.
Economics is
a. exclusively the study of the markets for stocks and bonds b. the study of choice under conditions of scarcity c. exclusively the study of business firms d. fundamentally the same as sociology e. applicable only when scarcity is not a problem