A monopolist's profit per unit is shown by the difference between price and average cost per unit
a. True
b. False
Indicate whether the statement is true or false
True
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Members of the top quintile of income earners in every country today:
A. earn disproportionately more than those in the bottom quintile. B. earn disproportionately less than they did 100 years ago. C. earn disproportionately less than those in the middle quintile. D. All of these are true.
If price rises, what happens to the demand for a product?
a. It increases. b. It decreases. c. It does not change. d. Uncertain--economic theory has no answer to this question.
In a monopolistically competitive market, the demand curves faced by incumbent firms are unaffected by the entry of new firms into the market
a. True b. False Indicate whether the statement is true or false
Which of the following is associated with shifting cultivation?
A. Transhumance B. Terracing C. Swidden D. Rainforest climates. E. Both C and D