A monopoly firm
a. has a short-run supply curve that slopes upward.
b. is a price taker.
c. does not have a supply curve.
d. is at the mercy of the market-determined price.
c
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Which of the following methods of importing technological change is available to a poor country which Gordon describes as being caught in the "poverty trap"?
A) Copy modern products made in rich countries. B) Purchase imported machinery that embodies the latest technology. C) Obtain investment by foreign firms. D) None of the above.
Which group of people would be characterized as unemployed?
a. Those who are unwilling to work b. Those who are unable to find work c. Those who are unable to work d. Those who did not search for work e. Those who are too young to work
For most goods and services, an increase in income will cause the demand curve to shift to the left.
Answer the following statement true (T) or false (F)
The used-car market is an example of an market with imperfect information.
Answer the following statement true (T) or false (F)