The relationship between a consumer's monthly income and monthly consumption of four products, A-D, is shown below.IncomeQuantity Consumed?ABCD$4,00045902005,000601801015Which product listed is an example of an inferior good?

If we use a narrow definition of monopoly, then a monopoly is defined as a firm

A) that has the largest market share in an industry. B) that can ignore the actions of all other firms because it produces a superior product compared to its rivals' products. C) that can ignore the actions of all other firms because it produces a product for which there are no close substitutes. D) that has been granted special production rights by the government.

The price elasticity of supply for the Hope Diamond is zero because there is only one. Therefore, the supply curve for the Hope Diamond is

A. perfectly inelastic. B. unit elastic. C. elastic. D. perfectly elastic.