If a firm produces an experience good, its mode of advertising will be

Consumers fare worse under a monopoly than under perfect competition because a lower quantity is sold at a higher price in the monopoly market than in a perfectly competitive market

a. True b. False Indicate whether the statement is true or false

A bank receives a demand deposit of $1,000 . The bank loans out $600 of this deposit and increases its excess reserves by $300 . What is the legal reserve requirement?

a. 10 percent b. 20 percent c. 30 percent d. 60 percent