Beanie Babies are popular stuffed animals sold by the Ty Corporation. Explain whether or not Ty is a monopoly
Since there are many substitutes for Beanie Babies, that is, many goods whose cross elasticities with
Beanie Babies are relatively high, Ty does not sell these toys in a monopoly market.
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The marginal utility of a unit of good X
A. is always greater than the total utility of X. B. is always less than the average utility of X. C. generally depends on how much X the consumer already has. D. is always equal to the price of X.
What assumptions are necessary for a market to be perfectly competitive? Explain why each of these assumptions is important
What will be an ideal response?
In 2016, Kendall Ford, an automobile dealership, spent $20,000 on a new car lift for its repair shop, $2,000 on a new copy machine for its sales division, and $600,000 on Ford Motor company stock
Unsold cars and trucks were valued at $400,000 on January 1, 2016 and unsold cars and trucks were valued at $900,000 on December 31, 2016. What is Kendall Ford's total investment spending in 2016? A) $22,000 B) $322,000 C) $522,000 D) $1,022,000
If the quantity demanded of good X is greater than the quantity supplied of good X, then the market for good X is in disequilibrium
Indicate whether the statement is true or false