In general, the more the substitutes available for a good
A. the more inelastic the demand for the good.
B. the more elastic the demand for the good.
C. the greater the demand for the good.
D. the less the demand for the good.
B. the more elastic the demand for the good.
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All other thing unchanged, when the Fed sells government bonds, it aims to shift the aggregate demand curve to the right.
a. true b. false
A decrease in the nation's wealth, all other factors constant, would cause:
A. the bond demand curve to shift left. B. bond prices to rise. C. the bond supply curve to shift left. D. interest rates to decrease.
The profit-maximizing perfect competitor will produce at that output at which
A. marginal cost equals marginal revenue. B. total revenue is maximized. C. average total profit is maximized.
To maximize profit a monopolist will produce where
A) marginal revenue is equal to marginal cost. B) demand for its product is unit elastic. C) revenue per unit is maximized. D) average total cost is equal to average revenue.