The De Beers Diamond company advertises heavily to promote the sale of all diamonds, not just its own. This is evidence that it has a monopoly position to some degree
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The average total cost curve is U-shaped. At the quantity of output where average total cost is at its minimum, is the marginal cost curve above the average total cost curve,
below the average total cost curve, or intersecting the average total cost curve?
If marginal benefit is less than marginal cost, output is inefficiently high
Indicate whether the statement is true or false
Supply-side inflation will increase the price level and reduce real GDP
a. True b. False Indicate whether the statement is true or false
Which of the following describes the relationship between a confidence interval for y at a given value of x and a prediction interval for y at the same value of x?
a. The confidence interval will be narrower than the prediction interval. b. The confidence interval will be always half the width of the prediction interval. c. The confidence interval will be wider than the prediction interval. d. The confidence interval will be the same width as the prediction interval.