A monopoly can successfully price discriminate as long as there are no close substitutes for its product
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is true?
A) If both demand and supply increase there must be an increase in equilibrium price; equilibrium quantity may either increase or decrease. B) An increase in supply causes a change in equilibrium price; the change in price does not cause a further change in demand or supply. C) If demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater. D) A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
The law of increasing opportunity cost says that
a. wages increase as employment increases b. interest rates rise as inflation increases c. the cost of increasing employment opportunities increases with specialization d. the more of something we produce, the less expensive it becomes e. the more of something we produce, the greater is the opportunity cost of producing an additional unit
Which professional sports league has utilized a G-3 loan program to finance its stadiums?
a. MLB b. NFL c. NBA d. NHL e. English Premier League
A(n) ___________ in income will shift the budget line to the left.
a. increase b. decrease c. no change