How do monopolists influence price and demand?
a. Monopolists can sell any quantity they choose at a given price.
b. Monopolists have little control over price.
c. When monopolists lower prices, sales fall.
d. When monopolists raise prices, sales fall.
d. When monopolists raise prices, sales fall.
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Inflation that is caused by an increase in aggregate demand without any change in aggregate supply is called
A) demand-push inflation. B) cost-pull inflation. C) cost-push inflation. D) demand-pull inflation.
How do we know when a market is contestable?
What will be an ideal response?
Consider the nations of Canada, the United Kingdom, and the United States. Since 1870, which of these nations has progressed, in an economic sense, more slowly than the other two nations?
Loans are better than grants for higher education.
A. True B. False C. Uncertain