Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (CPI) is currently 110 . This indicates the price of the market basket of goods and services is now

When there are three or more options, plurality-rule voting does a good job of capturing the preferences of voters

Indicate whether the statement is true or false

Pure monopoly is defined as a

a. one-firm industry. b. market structure in which there are many substitute products. c. market structure maintained by entry of many rival firms. d. market structure created by special government sanctions.