Compared to the quantity produced under perfect completion, what does the monopolist produce?
a. The same amount as the perfect competition quantity
b. More than the perfect competition quantity
c. Less than the perfect competition quantity
d. Either more or less than the perfect competition quantity
c. Less than the perfect competition quantity
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Real estate suitable for condominium development is also suitable for single-family home development. Therefore, a rise in the price of condominiums relative to single-family homes tends to
A) increase the opportunity cost of building new single-family homes. B) reduce the demand for condominiums. C) increase the demand for condominiums. D) do none of the above.
If on Tuesday you can buy 125 yen per U.S. dollar and on Wednesday you can buy 120 yen per U.S. dollar,
a. both the U.S. dollar and the yen have appreciated. b. both the U.S. dollar and the yen have depreciated. c. the U.S. dollar has appreciated and the yen has depreciated. d. the U.S. dollar has depreciated and the yen has appreciated.
Relate the term scarcity to the action(s) it causes.
A. Scarcity causes developed nations to have more material goods than developing nations. B. Scarcity causes fewer technological advances. C. Scarcity forces people to want more material goods. D. Scarcity forces everyone to make choices.
If the imports are no longer 0, then
What will be an ideal response?