A monopolistic competitor would face a demand curve with a
A) positive slope.
B) negative slope.
C) constant slope.
D) slope equal to 0.
Answer: B
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What is the shape of the marginal revenue curve derived from a linear downward sloping demand curve?
A) Horizontal B) Vertical C) U-shaped D) Downward sloping, with a constant slope
When the government bans a good:
A. the cost of breaking the ban needs to be sufficiently low in order to be effective. B. it doesn’t need to change the trade-offs consumers face. C. it will only be effective if it can be easily enforced. D. it should get approval from the community before exacting the ban to be more effective.
The relationship between the velocity of money and interest rates is:
A. negative and stable. B. negative but not stable. C. positive but not stable. D. positive and stable.
If the $/yen exchange rate rises, then so does the value of the dollar.
Answer the following statement true (T) or false (F)