A monopoly's economic profit is protected by the lack of entry of new firms even in the long run

Change in U.S. policy can lead to changes in inflationary expectations, interest rates, and exchange rates simultaneously as they all adjust to new equilibrium levels

Indicate whether the statement is true or false

Velcro is becoming more and more popular for a variety of uses, including as fasteners for shoes. What should happen to the equilibrium price and quantity for shoelaces as a result?

a. Both price and quantity will increase. b. Both price and quantity will decrease. c. Price will increase and quantity decrease. d. Price will decrease and quantity increase. e. Nothing.