Which of the following is not a characteristic of a monopoly?
A. A monopolist faces a downward-sloping demand curve.
B. There are no close substitutes for a monopolist's product.
C. After the first unit, the monopolist's marginal revenue is always less than its price.
D. A monopolist is a price taker.
Answer: D
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Because education generates a positive externality, ______
A. everyone who wants a college education should get one B. graduates' marginal benefit exceeds the society's value of the educa-tion C. the quantity of education undertaken will achieve the social interest if it is free D. subsidies to colleges or vouchers to students are means of achieving the efficient number of graduates
What are the two critically important functions for corporate financing performed by stock exchanges?
What will be an ideal response?