As a general rule, antitrust authorities refer to any firm with a market share above ________ percent as a monopoly even though it is technically a dominant firm.

The price elasticity of demand for a printer is estimated to be 1 . This means that an increase in price by 10% will

a. Increase quantity demanded by 10% b. Decrease quantity demanded by 10% c. Increase demand by 10% d. Decrease demand by 10%

Refer to the graph below. If the government wants to collect tax revenues equal to R2, then the tax rate should be set at:

A. T2 or T3
B. T2 only
C. T4 only
D. T2 or T4