A point outside the budget line is unaffordable to the consumer.
a. true
b. false
a. true
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If the monopoly illustrated in the figure above could engage in perfect price discrimination, then it would sell
A) 30 tickets. B) 50 tickets. C) 60 tickets. D) 100 tickets.
What are the four types of industry structures? Compare and contrast them with the number of firms in the industry, whether firms produce homogeneous or heterogeneous products, whether there are economic profits in long-run equilibrium, and how frequently the model appears in the real world.
What will be an ideal response?
The problem of "double marginalization" is
a. The retail price being too low due to an absence of both manufacturer and retailer markup b. The retail price being too high due to the existence of both manufacturer and retailer markup c. The retail price consisting only of the manufacturer markup d. The retail price consisting only of the retailer markup
The demand curve for a monopolistic competitor is likely to be flatter than that of a monopolist
a. True b. False Indicate whether the statement is true or false