An exclusion contract
A) is a form of entry deferral.
B) gives a firm the right to be the exclusive provider of a good in a particular market.
C) may not always be profitable for the incumbent.
D) All of the above.
D
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If a monopoly lowers its price, its
a. total revenue must increase. b. total revenue must decrease. c. marginal revenue must increase. d. marginal revenue must decrease.
If the reserve ratio is 15 percent, and banks do not hold excess reserves, and people hold only deposits and no currency, then when the Fed sells $25.5 million worth of bonds to the public, bank reserves
a. increase by $25.5 million and the money supply eventually increases by $382.5 million. b. increase by $25.5 million and the money supply eventually increases by $170 million. c. decrease by $25.5 million and the money supply eventually decreases by $382.5 million. d. decrease by $25.5 million and the money supply eventually decreases by $170 million.