A firm that is the sole seller of a product without close substitutes is
a. perfectly competitive.
b. monopolistically competitive.
c. an oligopolist.
d. a monopolist.
d
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You have data for sales of pizza for each of the 50 states in 2011. The type of graph to best display these data would be a
A) trend-line diagram. B) scatter diagram. C) multi-variable time-series graph. D) cross-section graph. E) time-series graph.
The monopolist always maximizes its profits by producing the amount of output that sets the marginal revenue equal to zero
Indicate whether the statement is true or false
Employing Figure 3-1 above, autonomous consumption expenditures are ________, and the marginal propensity to consume is ________
A) 200; 0.75 B) 500; 1 C) 200; 0.60 D) 0; 1
Suppose that savers become less willing to purchase medium-quality corporate bonds. The result will be that the prices of medium-quality corporate bonds will
A) fall relative to the price of U.S. Treasury securities, but rise relative to the price of high-quality corporate bonds. B) rise relative to the price of U.S. Treasury securities, but fall relative to the price of high-quality corporate bonds. C) rise relative to the prices of U.S. Treasury securities and high-quality corporate bonds. D) fall relative to the prices of U.S. Treasury securities and high-quality corporate bonds.