A monopolist's demand curve is less elastic than a perfect competitor's demand curve
a. True
b. False
Indicate whether the statement is true or false
True
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Use the figure below to answer the following question.
A decrease in supply would best be reflected by a change from
A. point 3 to point 4. B. point 5 to point 6. C. point 2 to point 1. D. point 5 to point 1.
A mismatch between the geographic location of workers and the location of job openings would result in which type of unemployment?
A. wait B. cyclical C. structural D. frictional
Happy Cleaners is a monopoly and cleans 500 homes a month. If Sparkle Cleaners enters the market and a Chamberlin oligopoly is formed, Sparkle Cleaners will clean ________ homes a month in equilibrium.
A) 375 B) 250 C) 200 D) 500
According to the graph shown, if this economy were to open to trade, the amount consumed domestically would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. increase by 35.
B. increase by 40.
C. decrease by 40.
D. increase by 75.