A natural monopoly is a market in which a single firm:
A. owns a key resource or input into the production of the good.
B. gains market share over time through aggressive tactics.
C. can produce the entire market quantity at a lower cost than multiple firms.
D. is protected from competition through government legislation.
Answer: C
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Which of the following is most likely to cause a rightward shift in the demand curve for dollars in exchange of the Chinese yuan?
A) An increase in the demand for Chinese products in the U.S. B) An increase in the demand for U.S. products in China C) A decrease in the demand for Chinese products in the U.S. D) A decrease in the demand for U.S. products in China
A family-sized pack of corn chips costs less per dollarthan smaller packs. This is an example of price discrimination
a. True b. False Indicate whether the statement is true or false
If Priscilla regards cheese and crackers as perfect complements, then
a. her indifference curves slope upward. b. her indifference curves are straight lines. c. Priscilla prefers lower indifference curves to higher ones. d. for Priscilla a bundle of 5 crackers and 5 ounces of cheese is just as good as a bundle of 5 crackers and 8 ounces of cheese.
If your real disposable income goes up by $200 per week, and your real consumption spending goes up by $160 per week, you have an marginal propensity to save of
A. 1.2. B. 0.8. C. 0.2. D. 1.0.