Because it is the only firm operating in a particular market, a monopolist is guaranteed to earn an economic profit

The primary difference between a change in demand and a change in the quantity demanded is:

A) a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in the demand curve. B) a change in quantity demanded is a movement along the demand curve, and a change in demand is a shift in the demand curve. C) both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different directions. D) both a change in quantity demanded and a change in demand are movements along the demand curve, only in different directions

If the cross elasticity of demand between Jeep Cherokees and Chevy Lumina Vans is 1.55, then the two vehicles are not substitutes in the eyes of car buyers

Indicate whether the statement is true or false