Everyone faces scarcity
a. True
b. False
Indicate whether the statement is true or false
True
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One well-established full-service stock brokerage charges $35 commissions per trade. A new online brokerage charges $7.95 per trade. Yet, many people still elect to use the traditional, full service broker. Why?
A) They're fools. B) They must not be aware of online brokers. C) They might perceive the low commission to be a sign of low reliability. D) They are failing to economize.
Product differentiation helps determine the slope of the demand curve facing a firm in monopolistic competition
a. True b. False
All of the following are ways a government might protect monopoly rights except:
A. protecting intellectual property rights. B. subsidizing a state-owned entity. C. making it illegal to enter an industry. D. heavy taxation of potential competitors.
A movement along the supply curve might be caused by a change in a. technology
b. supplier's input prices. c. expectations about future prices. d. the price of the good or service that is being supplied.