In which of these markets would the firms be facing the least elastic demand curve?
A) perfect competition
B) pure monopoly
C) monopolistic competition
D) oligopoly
B
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Negative externalities might be reduced by letting people "work it out themselves," which might also be described as ________
A) substantiation. B) negotiation C) remuneration D) adjudication E) appropriate taxation
Capital, K, includes
A) money. B) machinery. C) business loans. D) know-how.
Which of the following would cause an unambiguous decrease in the real price of DVD players?
A) A shift to the right in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. B) A shift to the right in the supply curve for DVD players and a shift to the left in the demand curve for DVD players. C) A shift to the left in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. D) A shift to the left in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.
A decrease in the price of a good would a. increase the supply of the good
b. increase the quantity demanded of the good. c. give producers an incentive to produce more to keep profits from falling. d. shift the supply curve for the good to the left.