The monopolistic competitor's demand curve is more _______ (elastic/inelastic) than a monopolist's demand curve.
Fill in the blank(s) with the appropriate word(s).
elastic
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The price elasticity of demand for a textbook is estimated to be 1 no matter what the price or quantity demanded. In this case:
A. a decrease in price will increase the total revenue of sellers. B. a 10 percent increase in price will result in a 10 percent increase in the quantity demanded. C. a 10 percent increase in price will result in a 10 percent decrease in the quantity demanded. D. an increase in price will decrease the total revenue of sellers.
What is the value of $F (the total new checkable deposits)?
A) $1,000 B) $4,000 C) $5,000 D) $6,000
The firm in the figure above is ________ that is equal to ________
A) making an economic profit; $5.14 × 7 B) making an economic profit; $3.00 × 7 C) incurring an economic loss; $5.14 × 7 D) incurring an economic loss; ($5.14 - $3.00 ) × 7 E) making an economic profit; ($5.14 - $3.00 ) × 7
The interest rate that banks charge other banks for overnight loans is the
A) discount rate. B) Treasury bill rate. C) prime rate. D) federal funds rate.