Ceteris paribus, an increase in consumers' income will result in:
a. a decrease in demand for an inferior good

A single-price monopolist determines

A) its output but not its price. B) its price but not its output. C) both its output and its price. D) neither its output nor its price.

Household production is more likely to occur when

a. it requires many specialized resources b. technology makes it easier than market production c. tax avoidance is undesirable d. less control over the final product is desirable e. the opportunity cost of household production is high