The demand curve faced by a pure monopolist
A) is the same as its marginal revenue curve.
B) is perfectly inelastic.
C) lies below the marginal revenue curve.
D) is the market demand curve.
Answer: D
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Coins and dollar bills are money in the form of
a. barter b. currency c. value d. capital e. specie
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
The Federal Reserve considers any business with less than __________ employees to be "small."
A) 10 B) 100 C) 500 D) 1500
In 2005 hurricane Katrina devastated large portions of the Gulf Coast economy. Many refineries went offline disrupting oil refining and distribution. What do you think was a likely result?
A) the restricted supply constituted a cost push shock that would have shifted the long run AS curve to the right B) the restricted supply constituted a cost push shock that would have shifted the short run AS curve to the left C) the restricted supply constituted a cost push shock that would have meant an upward movement along the Phillips curve D) all of the above E) none of the above