The simplest way for a monopoly to arise is for a single firm to
a. decrease its price below its competitors' prices.
b. decrease production to increase demand for its product.
c. make pricing decisions jointly with other firms.
d. own a key resource.
d
Economics
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Automatic stabilizers are changes in ________ that occur automatically as economic activity changes
A) taxes and transfer payments B) the money supply C) unemployment D) inflation
Economics
Suppose you hear Professor I.M. Dismal say, "There is no substitute for carefully reading your textbook!" In the real world, students
A) will always and absolutely obey their professor's orders. B) will purchase the textbook regardless of its price. C) will often find what they believe are useful substitutes for reading the text. D) will have a vertical demand curve for textbooks.
Economics