Which of the following characteristics of a monopoly leads to positive economic profits?
a. The horizontal market demand curve faced by a monopolist
b. The existence of a large number of firms in the market
c. The availability of substitutes for the monopolist's product
d. The price-setting behavior of a monopolist
d
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The figure above gives your budget line for magazine and CDs per month. Given that your income equals $60 per month, what is your real income in terms of magazines?
A) 12 magazines B) 6 magazines C) 2 magazines D) $60/month
What is the relationship between the balance of trade and the current account balance?
What will be an ideal response?
An increase in workers' wealth causes
a. the supply curve of labor to shift to the right b. the supply curve of labor to shift to the left c. the supply curve of labor to stay the same d. an upward movement along the supply curve of labor e. a downward movement along the supply curve of labor
A shift from D1 to D2 represents
A. an increase in demand.
B. a decrease in demand.
C. no change in demand.