Relative to a perfectly competitive market, as long as the monopolist does not benefit from substantial economies of scale,
a. price and quantity are higher under monopoly
b. price and quantity are lower under monopoly
c. quantity is higher and price is lower under monopoly
d. quantity is lower and price is higher under monopoly
e. there are no differences in price and quantity
D
Economics
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Refer to Table 10.1. The value of the government purchases multiplier in this economy is
A) 0.2. B) 0.8. C) 4. D) 5.
Economics
Which of the following is NOT a characteristic of a market in equilibrium?
A. Neither buyers nor sellers want the price to change. B. Sellers can sell as many units as they want at the equilibrium price. C. There is neither excess supply nor excess demand. D. Buyers can buy as many units as they want at the equilibrium price.
Economics