Markets in which the behavior of the firms theoretically leads to an efficient allocation of resources that maximizes the benefits to consumers given the resources available to consumers are
a. monopolistic competition and oligopoly.
b. monopoly and oligopoly.
c. monopolistic competition and monopoly.
d. perfect competition and perfectly contestable.
d
Economics
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If the absolute value of the price elasticity of demand for a product is 1.5, and the price of a product increased 30 percent, then the quantity demanded will decline by
A) 45 percent. B) 20 percent. C) 5 percent. D) 10 percent.
Economics
A change in Federal Reserve monetary policy will:
A. have no effect on the Security Market Line. B. invert the Security Market Line. C. change the slope of the Security Market Line. D. cause a vertical shift of the Security Market Line.
Economics