In the new Keynesian models,
a. imperfect competition comes is the result of optimizing behavior by individuals.
b. perfect competition is assumed with respect to the product market
c. a natural monopoly is presumed for the product market.
d. both a and c.
d. None of the above
A
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A monopolist's profits with price discrimination will be _____ if the firm charged just one price
Fill in the blank(s) with the appropriate word(s).
When evaluating differences or similarities between an increase in supply and an increase in quantity supplied, what do we know?
a) The former is a shift of the curve and the latter is a movement along the curve b) The former is a movement along the curve and the latter is a shift of the curve c) Both are shifts of the supply curve d) Both are movements along the curve