If this is a closed economy, the price of a TV will be ________.
A. $125
B. $275
C. $175
D. $75
Answer: C
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Which organization is responsible for managing the nation's money supply?
A) Fort Knox B) The United States Congress C) The United States Treasury D) The Federal Open Market Committee E) The American Economic Association
If accounting profits are positive then economic profit is positive
Indicate whether the statement is true or false
A monopolist’s demand curve is which of the following?
a. Perfectly horizontal at the market price b. Smaller than the market demand curve c. The same as the market demand curve d. Larger than the market demand curve
According to "Coke Reignites Price War," price discounting (price wars) can destroy oligopoly profits. When profit destruction occurs,
A. Rival oligopolists seek to end it as quickly as possible. B. The entire industry will always collapse. C. Firms are powerless to change prices. D. Firms will wait for one firm to increase prices.