Product differences are ___________ physical.
Fill in the blank(s) with the appropriate word(s).
sometimes
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The figure above shows a monopoly firm's demand curve. At point u in the figure, the demand facing the monopoly is
A) elastic. B) unit elastic. C) inelastic. D) less than the supply.
Suppose Nara could invest her $1000 in a savings account or she could invest in the stock market
After one year, the savings account has a guaranteed 5 percent interest rate and the stock market has a 10 percent chance of tripling her money, and 90 percent chance of losing it all. What is the difference in Nara's expected wealth between these two options? A) $1050 B) $300 C) $750 D) $50
If liquidated damages stated in a contract are too low, inefficient breaches will be profitable, and if damages are too high, efficient breaches will not occur
Indicate whether the statement is true or false
Suppose Johnson's Rubber Factory belches black smoke into the air over the city of Bellowsville. If the city of Bellowsville attempts to internalize the external costs associated with the production of rubber with a pollution tax, we can expect:
A. the price of rubber not to change. B. the price of rubber to increase. C. the quantity of rubber demanded to increase. D. no change in the quantity of rubber demanded.