For a previously-legal good, criminalization will cause
A. demand to become more elastic.
B. price to fall, unambiguously.
C. demand to increase.
D. supply to become less elastic.
Answer: D
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In the above figure for a monopolistically competitive firm, the profit-maximizing output and price are respectively
A) 80 units and $11. B) 50 units and $8. C) 60 units and $9. D) 60 units and $14.
What is the opportunity cost of 1 ton of oranges for the nations of Argentina and Brazil, respectively?
A. .25 ton of apples and .5 ton of apples B. 10 tons of apples and 4 tons of apples C. .5 ton of apples and .25 ton of apples D. 4 tons of apples and 2 tons of apples
The demand curve for a monopolistic competitor slopes downward because: a. quantity demanded drops to zero after a slight price increase
b. there are close, but not perfect, substitutes for the product. c. customers have no loyalty to the product. d. the product is not differentiated in any way from those offered by other sellers.
What is the relationship between deposit insurance and bank discipline in making investments?
What will be an ideal response?