The only mineral that was available in any significant quantity in colonial America was:
a. Gold.
b. Silver.
c. Iron.
d. Coal.
c. Iron.
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If the price elasticity of demand is greater than 1, a monopoly's
A) total revenue increases when the firm lowers its price. B) total revenue decreases when the firm lowers its price. C) marginal revenue is negative. D) marginal revenue is zero.
How has the growing popularity of factory outlet stores affected the market for clothing at retail department stores?
A) the supply curve for clothing at retail department stores shifts to the left. B) the demand curve for clothing at retail department stores shifts to the right. C) the supply curve for clothing at retail department stores shifts to the right. D) the demand curve for clothing at retail department stores shifts to the left.
Describe the connections between rising income and environmental and social indicators. Which indicators improve and which worsen as national income rises?
What will be an ideal response?
High barriers to entry are generally found in: a. monopolistically competitive markets. b. oligopolistic markets
c. monopolistic markets. d. both (b) and (c).