Objects that have value in themselves and that are also used as money:

How do consumers react to a tax on an item with few or no substitutes?

a. They stop consuming the product. b. They consume a bit less. c. They consume considerably less. d. They consume a bit more.

For a monopoly producing any output level greater than one, the average revenue curve:

A. lies below the demand curve. B. lies above the marginal revenue curve. C. is the same as the marginal revenue curve. D. lies above the demand curve.