It is possible that a multi-product monopolist will reduce the quality of a product below what its users prefer in order to make more profit
Indicate whether the statement is true or false
T If the products are substitutes and buyers of a high-quality one will pay a high price for it, the monopolist may want to reduce the quality of the other product so it is less attractive as a substitute for the high-priced product.
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The rules for joining the Eurozone specified monetary economic conditions that the potential entrants had to achieve for admission. The convergence criteria of the ECB were:
A) moderate inflation, low unemployment, and adequate foreign currency reserves. B) no national debt and no current account deficits within the past five years. C) inflation rates roughly matching the lowest in the Eurozone, stable exchange rate peg for two years, and equivalent long-term interest rates. D) a stable political situation, high GDP growth rate, and moderate unemployment
The freedom of consumers to cast their dollar votes to buy, or not to buy, at prices determined in competitive markets describes:
a. socialism. b. communism. c. consumer sovereignty. d. the aspirations of Karl Marx.