If marginal costs increase, a monopolist will:
a. decrease price and increase output.
b. decrease both price and output.
c. increase price and decrease output.
d. increase both price and output.
e. keep both price and output at the same level.
c
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Which of the following increases the demand for a good or service?
A) a fall in the price of the good or service B) a smaller number of consumers wanting to buy the good or service C) a rise in the price of the good or service D) a rise in the price of a substitute good or service E) a rise in the price of a complement
What is not correct about the Northern U.S. abolitionist movement?
a. Northern slaveholders could sell their slaves to the south. b. Slave owners in the North suffered significant economic loss because of the movement. c. Most Northern states freed slaves after they had reached a minimum age. d. In most northern states freedom was granted over a gradual period of time.