Which of the following would cause a decrease in the demand for film?
a. a decrease in the price of film processing
b. an increase in the price of film
c. an increase in income of camera users
d. an increase in the price of cameras
e. an increase in supply of cameras
D
Economics
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The U.S. Postal Service has a monopoly on the delivery of first-class mail due to
a. economies of scale. b. a lack of initiative on the part of competing firms. c. legal barriers limiting entry. d. control over an essential resource.
Economics
Refer to the data for a nondiscriminating monopolist. At its profit-maximizing output, this firm will be operating in the:
A. perfectly elastic portion of its demand curve.
B. perfectly inelastic portion of its demand curve.
C. elastic portion of its demand curve.
D. inelastic portion of its demand curve.
Economics