All of the following are true about a monopolist EXCEPT
A) the demand curve for its product is perfectly elastic.
B) it produces a product with no close substitutes.
C) its demand curve is the same as the market demand for the industry.
D) it is a single seller of a good or service.
Answer: A
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Which approach to measuring money focuses on the value of currency, transaction deposits, and travelers checks?
A) near moneys B) the liquidity approach C) M2 D) the transactions approach
In business organizations, the specialization of workers and their assignments to different tasks is called:
a. division of labor. b. capital efficiency. c. product differentiation. d. labor productivity.
When the amount of sales is large, but each sale has a low value, cheating on a cartel arrangement can significantly increase an individual firm's profits and is thus tempting
a. True b. False Indicate whether the statement is true or false
The division of labor refers to
A) workers being assigned specific tasks. B) workers performing multiple tasks. C) separating men and women in the workforce. D) creating jobs that all people can perform at the same level.