Which of the following would force a monopoly to charge a lower price?
A) A new firm selling the same enters the market.
B) A new firm selling the same product locates close to the monopoly.
C) A new firm introduces a better substitute for the firm's product.
D) All of the above.
D
Economics
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Given the availability of California oranges, demand for Florida oranges will
a. be less elastic than if there were no California oranges b. be more elastic than if there were no California oranges c. have the same elasticity as it would if there were no California oranges d. be perfectly elastic e. be perfectly inelastic
Economics
If the value added of a firm is positive, will the firm necessarily have positive profits?
What will be an ideal response?
Economics