How is the current demand for a good related to its future price?
a. If the price is expected to drop, current demand will fall.
b. If the price is expected to drop, current demand will rise.
c. If the price is expected to rise, current demand will fall.
d. Current demand is not related to future price.
Ans: a. If the price is expected to drop, current demand will fall.
Economics
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A monopolist faces the following demand curve: P = 12 - .3Q with marginal costs of $3 . What is the monopolistic PRICE?
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Economics