A monopoly cannot choose both price and quantity because ________
Fill in the blank(s) with the appropriate word(s).
Answer: a monopoly has the power to set price, not the demand curve
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If a good is scarce, does that imply that there is a shortage of it?
What will be an ideal response?
In order for the price system to have satisfied the exacting requirements for efficiency,
a. MU must equal MC for each and every commodity. b. the average cost of producing each good must be equal to its MU. c. the maximum possible of total economic profit must be produced. d. every consumer's MU will be equal to marginal physical product
How many résumés should you have?
A. One. B. One tailored to each job you apply for. C. Between 5 and 10 which cover the majority of companies.
Foreign exchange contracts, such as futures, swaps, and options, are collectively known as:
a. derivatives. b. deposits. c. spot contracts. d. spreads.