If the economy is in equilibrium, it must be
a. on the 45° line.
b. on the 60° line.
c. below the 45° line.
d. below the 60° line.
a
Economics
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An example of a firm in monopolistic competition is
A) your local water company. B) the sole cable television company. C) the many Chinese restaurants in San Francisco. D) Kansas Power and Light, the sole provider of electricity in Kansas City. E) Shaniq, a wheat farmer.
Economics
Suppose that initially the price of a bag of jellybeans is $6, and the price of a bottle of cola is $2. If the price of a bottle of cola increases, then the relative price of jellybeans
A) increases. B) decreases. C) stays the same, but the relative price of cola increases. D) stays the same, but the relative price of cola decreases.
Economics