An important difference between a perfectly competitive firm and a monopolist is
A. the shape of the demand curve each faces.
B. the goals of the owners of the firms.
C. the size of the firms.
D. a monopolist normally produces a service, while a perfect competitor normally produces a good.
Answer: A
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In the above graphs, an inverse relationship is shown by
A) Graph A. B) Graph B. C) Graph C. D) Graph D.
Average revenue is another way of describing
a. price b. output c. total revenue d. profit e. marginal cost
Which of the following would be most likely to shift the consumption function downward?
A. A stock market crash B. A price level decrease C. Increased corporate profits D. A stock market boom
Which of the following is charged with the job of buying and selling securities?
A. The New York Federal Reserve Bank B. The Federal Advisory Council C. The United States Treasury D. The Department of Internal Affairs