A binding price ceiling causes quantity demanded to be less than quantity supplied
a. True
b. False
Indicate whether the statement is true or false
False
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The informal sector can be a significant drag on the economies of developing countries because the firms in the informal sector
A) employ illegal immigrants from other countries. B) produce goods and services no one wants. C) sell their goods and services to citizens in other countries. D) do not pay taxes to the government.
A monopolist who attempts to bundle her product with one that is produced and sold in a competitive market is likely to make a smaller profit than one who does not bundle his product with such a good
Indicate whether the statement is true or false
Refer to the figure below. If Cory chooses A, then Jess's best response is: 
A. to choose A. B. to choose the cell in which Jess's payoff is 10. C. to choose B. D. non-existent.
In Figure 8.10, airline Fly Smart is initially a secure monopoly between two cities X and Y at point M, serving 300 passengers per day at the profit-maximizing price of $300 per ticket. Suppose that Fly Smart discovers that a second airline is contemplating entering the market. If the minimum market entry quantity is 130 passengers per day, Fly Smart's entry-deterring quantity is:
A. 500 passengers per day. B. 420 passengers per day. C. 370 passengers per day. D. 300 passengers per day.