Which of the following limits the price a monopolist charges?
a. patents
b. copyrights
c. competition from other firms
d. market demand
e. market supply
D
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When a tax is imposed on a good or service, buyers respond only to the price that ________ the tax, and sellers respond to the price that ________ the tax
A) excludes; includes B) includes; excludes C) excludes; excludes D) includes; includes
A consumer equilibrium is depicted using indifference curve analysis as: a. the point where two indifference curves cross
b. the combination of two goods that minimizes total utility for a given level of income. c. the combination of two goods located where the highest attainable indifference curve is just tangent to the budget line. d. any combination of two goods where an indifference curve crosses the budget line.
For a given price level, which of the following correctly indicates how to find the quantity of real GDP demanded?
a. Where the consumption function crosses the savings curve b. Where the demand for investment curve crosses the labor supply curve c. Where real GDP equals aggregate expenditure d. Where the labor supply curve crosses the consumption function
Which of the following is NOT a way to deal with risk?
a. assuming b. avoiding c. shifting d. deflecting