A monopolist faces the trade-off that a higher price leads to a lower quantity demanded. This means that the monopolist faces a(an):
a. downward-sloping demand curve.
b. upward- sloping demand curve
c. horizontal demand curve.
d. vertical demand curve.
a
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Assume that the demand curve for sunblock is linear and downward sloping. Which of the following statements about the slope of the demand curve for sunblock and the price elasticity of demand for sunblock are true?
A) The slope is constant, but the price elasticity of demand is not constant at all points along the demand curve for sunblock. B) The slope of the demand curve for sunblock is constant and equal to zero; demand is perfectly inelastic. C) The slope is not constant, but the price elasticity of demand is constant at all points along the demand curve for sunblock. D) The slope and the price elasticity of demand are constant at all points along the demand curve for sunblock.
At the end of World War II in 1945, many economists and business managers expected that the U.S. economy would enter a severe recession. At that time, Sears and Montgomery Ward were the two largest department store chains in the country
Sears CEO Robert Wood expected continuing prosperity and opened new stores. Montgomery Ward CEO Sewell Avery expected falling incomes and rising unemployment and closed a number of existing stores. The results of their actions were seen during the late 1940s, when A) Sears declared bankruptcy and was purchased by Montgomery Ward. B) Montgomery Ward weathered the economic downturn in better financial shape than Sears. C) Sears had to close many of the new stores it had opened following the end of the war. D) Sears rapidly gained market share at Montgomery Ward's expense.
Economic historians do not believe there was a shortage of money in colonial America for which of the following reasons?
(a) Interest rates were not unreasonably high. (b) Long-term prices were rising. (c) The colonial economy was growing in real terms. (d) All of the above.
What is one reason for the high interest rates for home loans offered to those with low credit ratings?
A) Predatory lending practices B) Those with lower credit ratings faced a restricted supply of loans, ceteris paribus. C) Those with lower credit ratings typically demand greater loans, ceteris paribus. D) Government regulation