A decrease in the price of VCRs will increase demand for video cassettes
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Ceteris paribus means allowing all things to change.
a. true b. false
Economics
Refer to the diagram for a natural monopolist. If a regulatory commission set a maximum price of P 2 , the monopolist would:
A. produce output Q 1 and realize an economic profit.
B. produce output Q 3 and realize an economic profit.
C. close down in the short run.
D. produce output Q 3 and realize a normal profit.
Economics