A monopolist faces a downward-sloping demand curve because:
a. the demand for its product is inelastic.
b. the industry demand curve is horizontal.
c. resource prices increase as the monopolist expands output.
d. the entire market demand curve is the monopolist's demand curve.
d
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If stock exchanges did not exist,
A. the risk to the investor of buying stocks would be much greater. B. the economy’s resources could be more efficiently allocated among firms. C. there would be no organized way for firms to issue stock. D. investment banks would no longer play a role in handling stocks.
One way for governments to try and minimize the effects of structural unemployment is to:
A. subsidize retraining programs. B. increase unemployment benefits. C. mandate employers cannot fire anyone. D. All of these are ways that would minimize the effects of structural unemployment.
The export supply and import demand curves measure the domestic shortage and surplus, respectively, at different world prices
a. True b. False Indicate whether the statement is true or false
Jo loves mystical objects. Her marginal utility for the first tarot deck is very high but declines rapidly with each subsequent deck she buys. Her marginal utility for the first crystal is much lower but declines more slowly with each subsequent crystal she buys. Assuming the marginal utility per dollar she receives from the first tarot deck is higher than the marginal utility per dollar she receives from the first crystal, what could she do to reach consumer equilibrium?
a. Stop buying crystals completely and start buying tarot decks. b. Stop buying tarot decks completely and start buying crystals. c. Buy only tarot decks until their marginal utility per dollar equals that of the first crystal. d. Buy only crystals until their marginal utility per dollar equals that of the first tarot deck.