Federal deposit insurance discourages but does not prevent bank runs.
Answer the following statement true (T) or false (F)
True
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In which market type does the firm face the most inelastic demand curve?
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
Governments typically intervene in markets
a. to bring the market price to its equilibrium level b. to shift the price away from its equilibrium level c. only to increase the market price d. only to increase the market output e. because in some markets, supply and demand do not generate their own equilibrium price
Price discrimination is:
A. only illegal if it hurts consumers more than nondiscrimination. B. only illegal if used to lessen or eliminate competition. C. always illegal. D. always legal.
Refer to the above figure. The profit-maximizing price and output for this monopolist are
A) a price of P1 and output of Q1. B) a price of P4 and output of Q1. C) a price of P2 and output of Q2. D) a price of P3 and output of Q3.