The monopolist has no supply curve because
A) the quantity supplied at any particular price depends on the monopolist's demand curve.
B) the monopolist's marginal cost curve changes considerably over time.
C) the relationship between price and quantity depends on both marginal cost and average cost.
D) there is a single seller in the market.
E) although there is only a single seller at the current price, it is impossible to know how many sellers would be in the market at higher prices.
A
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If the nominal interest rate is 7 percent and the inflation rate is 1 percent, the real interest rate is approximately
A) 7 percent. B) 6 percent. C) 8 percent. D) -6 percent.
If the elasticity of supply for a good is greater than the government expected: a. Consumers will bear more of the burden of the tax than the government expected. b. Producers will bear more of the burden of the tax than the government expected. c. The tax will raise more revenue than the government expected
d. Both a. and c. are true.