The demand curve faced by the monopolist
A. slopes upward.
B. is perfectly elastic.
C. is perfectly inelastic.
D. slopes downward.
Answer: D
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If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01. B) .09. C) 1. D) 11.
All of a firm's inputs are considered to be variable in the long run
a. True b. False Indicate whether the statement is true or false
Our educational standards today.
A. are the highest in history. B. are much higher than they were 50 years ago. C. are the same as they were 50 years ago. D. are much lower than they were 50 years ago.
Morgan’s country has worked hard to increase productivity through the use of new technology and has achieved an economic growth rate of 3.25 percent. Assuming Morgan’s country can sustain this growth over time, the economy should double in approximately ______ years.
a. 227.5 b. 22.75 c. 21.5 d. 215.4