A monopoly exists when there is only one producer in an industry, and no close substitutes for the product exist
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Which of these curves shows a more unequal distribution of income?
a. Curve A b. Curve B c .Curve C
Economics
Briefly describe the factors that contributed to the U.S. Current Account deficits of the 1990s
What will be an ideal response?
Economics
Is Water a Free Good?
Read the International Food Policy Research Institute's summary of Mark Rosegrant's article on water scarcity.
Questions:
- Is water a free good or a scarce good? Why?
- Why would a higher price for water reduce the likelihood of a future water shortage?
Economics
Price discrimination adds to social welfare in the form of (i) increased total surplus. (ii) reduced costs of production. (iii) increased consumer surplus
a. (i) only b. (i) and (ii) only c. (i) and (iii) only d. (i), (ii), and (iii)
Economics