The demand curve facing a monopolistic firm is
A. upward sloping.
B. downward sloping.
C. vertical.
D. horizontal.
Answer: B
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When marginal analysis is used to determine the optimal quantity of accident avoidance, all of the following are true except which one?
A) The sum of the expected cost of an accident and the cost of avoiding accidents is minimized. B) The expected marginal benefit of accident avoidance exceeds the marginal cost. C) The total cost of the accident is minimized. D) The expected marginal benefit of accident avoidance equals the marginal cost.
The loan supply curve has a positive slope
a. for all savers. b. only for savers with fixed accumulation targets. c. for all savers except those with fixed accumulation goals. d. only for those contemplating retirement.
Which of the following is NOT a fundamental objective for the performance of a country's macroeconomy?
A. A reasonable and sustainable balance of payments with the rest of the world B. Interest rates C. Full employment of resources D. Price stability
Which of the following is an example of an "implicit cost"?
A) Interest that could have been earned on retained earnings used by the firm to finance expansion. B) The payment of rent by the firm for the building in which it is housed. C) The interest payment made by the firm for funds borrowed from a bank. D) The payment of wages by the firm.