A monopoly firm's demand curve
A) is the same as the market demand curve.
B) is perfectly inelastic.
C) is more inelastic than the demand curve for the product.
D) is inelastic at high prices and elastic at lower prices.
Answer: A
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If the groups are equal size and the firm can only set one price, how should the firm price the high-end wok?
a. Price low and sell to both the users b. Price high and sell only to the professional chefs c. Price low and sell only to the home users d. All of the above
Secular deflation occurs when
A. aggregate demand remains unchanged while economic growth increases long-run aggregate supply. B. aggregate demand increases at the same time there is no economic growth. C. both aggregate demand and aggregate supply are shifting left. D. there is no economic growth and aggregate demand falls.