An attempt by a firm to create a monopoly and gain the economic profit from the monopoly is called

A) collusion.
B) intrusion.
C) profit seeking.
D) rent seeking.

D

Economics

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Assume that brand X is an inferior good and name brand Y is a normal good. An increase in consumer income, other things being equal, will cause a(n):

a. upward movement along the demand curve for name brand Y. b. downward movement along the demand curve for brand X. c. rightward shift in the demand curve for brand X. d. leftward shift in the demand curve for brand X.

Economics

The market demand curve is ____ and the demand curve for a single firm in a competitive market is ____

A) horizontal, horizontal B) downward sloping, horizontal C) downward sloping, downward sloping D) horizontal, downward sloping

Economics