In Figure 13-3, according to economic theory, the kink in the demand curve will occur at point
A. E.
B. A.
C. C.
D. D.
Answer: B
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Countervailing duty cases involve allegations of
A) foreign monopoly pricing. B) foreign export subsidies. C) foreign barriers to U.S. exports. D) All of the above.
The aggregate demand curve is the total quantity of an economy's
A) intermediate goods demanded at different inflation rates. B) intermediate goods demanded at a particular inflation rate. C) final goods and services demanded at a particular inflation rate. D) final goods and services demanded at different inflation rates.
Gas stations can price the products that they sell in their convenience store a little bit higher because
a. these products are usually complements to the gas sales and the demand for gas is inelastic b. these products are usually complements to the gas sales and the demand for gas is elastic c. these products are usually substitutes to the gas sales and the demand for gas is inelastic d. these products are usually substitutes to the gas sales and the demand for gas is elastic
Which of the following is not a barrier to entry which leads to monopoly power
a. economies of scale b. control over key patents c. control of an essential resource d. government-imposed barriers to entry e. homogeneous product