A monopolist’s cost curves may shift up because of
A. advertising expenditure.
B. bureaucratic inefficiencies.
C. coordination problems.
D. All of these responses are correct.
Answer: D
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Which of the following is not a weakness of fiscal policy? a. Implementation of policy is difficult
b. Time lags in fiscal policy are long and variable. c. Fiscal policy works only during periods of stagflation. d. Fiscal policy often affects only current income, but many economic decisions are made on the basis of permanent income. e. Fiscal policy might have undesirable long-term effects on short-run aggregate supply.
Which of the following does not hinder economic development?
a. lack of education b. poor agricultural productivity c. low investment in human capital d. lack of technology e. good nutrition
Which of the following industries has not undergone deregulation in recent years?
a. steel b. telephone c. airlines d. trucking e. banking
The major problem with using strawberries as money is the problem of
a. homogeneity b. divisibility c. portability d. durability e. scarcity or abundance