The demand curve faced by a pure monopolist
A. is the market demand curve.
B. lies below the marginal revenue curve.
C. is the same as its marginal revenue curve.
D. is perfectly inelastic.
Answer: A
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Which of the following is an argument that the incidence of corporate taxation falls entirely on consumers?
A) Corporations pass their tax burdens on to consumers by charging higher prices equal to the amount of the tax. B) Corporations pass their tax burdens on to consumers because consumers ultimately work for the corporations. C) Corporations always evade taxes so that consumers ultimately bear the tax burdens as taxpayers. D) Most taxes on consumers are collected by corporations through sales taxes.
How does an increase in income affect the market of bus rides (inferior good)?
a. The demand curve for bus rides to shift to the right b. The demand curve for bus rides to shift to the left c. The supply curve for bus rides to shift to the right d. The supply curve for bus rides to shift to the left
The quantity demanded of a good is the amount that buyers are a. willing to buy
b. willing and able to buy. c. willing, able, and need to buy. d. able to buy.
In-kind assistance programs are direct transfers of goods and services to the poor
Indicate whether the statement is true or false