According to the kinked demand curve model, an oligopolist may face
a. more elastic demand than a monopolistic competitor.
b. less elastic demand than a monopolistic competitor.
c. more elastic demand if she raises her price than if she lowers her price.
d. less elastic demand if she raises her price than if she lowers her price.
c
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Use the figure below to answer the following question.
What is the amount of consumer surplus after the government imposes the excise tax on the market?
A. $8 B. $40 C. $20 D. $32
Which of the following statements is true of inequality in the U.S. economy?
A) Inequality in the U.S. economy is now less than what it was in the year 1950. B) Inequality in the U.S. economy is now higher than what it was in the year 1950. C) Inequality in the U.S. economy had increased throughout the 20th century. D) Inequality in the U.S. economy had decreased throughout the 20th century.
The securities, such as stocks or bonds, constitute a(n) ________ for the savers and a(m) ________ for the borrowers
A) asset; liability B) debt; assets C) liability; asset D) debt or an asset; liability or an asset
If the government institutes a specific tax for a good
A) the producer simply passes the entire tax on to the consumer. B) the producer must absorb the entire tax. C) the producer can generally only pass part of the tax onto the consumer. D) the equilibrium price drops.