Behavioral economists suggest that brand-loyalty, which can be a source of monopoly power for the producer, may be explained by consumers' tendency to have the:

Isabella is participating in a first-price sealed-bid auction for a house. If there are 5 other bidders and her maximum willingness to pay for the house is $60,000, what is her optimal bidding strategy?

What will be an ideal response?

Refer to Figure 13-11. The diagram depicts a firm

A) in an increasing-cost industry. B) in long-run equilibrium. C) that is making short-run losses. D) in a constant-cost industry.