A firm facing a ________ demand curve, ceteris paribus, will have zero quantity demanded if it raises its price above the market price.
A. perfectly elastic
B. relatively inelastic
C. perfectly inelastic
D. relatively elastic
Answer: A
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Points lying below a production possibilities curve are:
A) inefficient because more can be produced with the available resources. B) inefficient because they represent the production of only one good. C) efficient because combinations represented by those points are attainable. D) efficient because production is maximum on those points with the available resources.
The Celler-Kefauver Act is primarily concerned with prohibiting:
a. monopolization. b. unfair business practices. c. predatory pricing. d. anticompetitive mergers.
Explain why many mayors of cities facing the need to borrow for infrastructure improvements, may not look favorably on a large federal income tax rate reduction?
What will be an ideal response?
For a profit-maximizing monopolist
A) P > MC. B) P = MC. C) P = MR. D) P = ATC.