The reference base period for the CPI has an index number of

In the figure above, the single-price, unregulated monopoly produces

A) less than 19 units per day. B) 20 units per day. C) between 21 and 39 units per day. D) 40 or more units per day.

In the short-run, a fall in demand results in _____ while in the long-run, a fall in demand results in ______

A. an increase in output and prices; a decline in output only B. a fall in prices and an increase in output; no change in output or prices C. a fall in prices only; and fall in output and prices D. a fall in output and prices; a fall in prices only