One of the requirements for a monopoly is that
A) products are high priced.
B) there are several close substitutes for the product.
C) there is a product with no close substitutes.
D) the product cannot be produced by small firms.
E) there is no barrier to entry.
C
Economics
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If the Fed sells government bonds in the open market, it will cause:
A) a downward movement along the supply curve for reserves. B) a shift of the supply curve for reserves to the left. C) a shift of the supply curve for reserves to the right. D) an upward movement along the supply curve for reserves.
Economics
In a market economy, supply and demand determine both the quantity of each good produced and the price at which it is sold
a. True b. False Indicate whether the statement is true or false
Economics