When a domestic monopolist becomes subject to international competition, it faces:
a. a perfectly inelastic demand curve.
b. a unitary elastic demand curve.
c. a perfectly elastic demand curve.
d. no demand curve.
Ans: c. a perfectly elastic demand curve.
Economics
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A) real GDP. B) real GDP consumed by the total population in one hour. C) real GDP produced by one hour of labor. D) workers employed during one hour. E) workers who are gainfully employed.
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In the loanable funds market model, the demand curve represents:
a) borrowers. b) taxes. c) savers. d) the budget balance.
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