Which group has the highest poverty rate from among these groups?
A. Children under 18
B. Persons over 65
C. White males
D. Members of working class families
A. Children under 18
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A firm that holds a monopoly in both goods stands to gain from a tie-in sale
A) True. B) False. C) True, which is why anti-trust laws exist. D) False, there are no dual monopolies.
Even if the Fed attempts to control an asset bubble by raising interest rates to any reasonable degree, it is not clear that overly-optimistic investors would respond
a. True b. False
Which of the following is true for a firm that is a monopolist?
a. the firm will make an economic profit in the short run. b. the firm will produce a smaller quantity of output than what would be best from the viewpoint of ideal economic efficiency. c. the additional revenue that can be generated from an increase in output will exceed the firm's price. d. the firm can charge whatever it wants for its product since consumers have no alternatives.
Which of the following is a characteristic of oligopoly?
A) mutual firm independence B) zero economic profits in the short run C) marginal cost pricing D) only a few firms in the industry