Refer to the figure above. When the monopolist is free to set the price, ________
A) it makes a profit of $150
B) it makes a loss of $150
C) it makes a profit of $300
D) it makes a loss of $300
C
Economics
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Elasticity of demand will ____ as the availability of substitutes ____
a. increase; decreases b. decrease; increases c. increase; increases d. remain unchanged; decreases
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If the Fed's policy is contractionary, it will
A) use open market operations to buy Treasury bills. B) use open market operations to sell Treasury bills. C) lower the discount rate. D) lower the reserve requirement.
Economics