The demand curve a monopolist faces
a. is more elastic than a perfectly competitive firm's demand curve
b. is the market demand curve
c. is as elastic as a perfectly competitive firm's demand curve
d. is not affected by the prices of complements
e. will not shift in response to a change in consumer tastes
B
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Higher input prices result in
A) upward shifts of MC and reductions in output. B) upward shifts of MC and increases in output. C) downward shifts of MC and reductions in output. D) downward shifts of MC and increases in output. E) increased demand for the good the input is used for.
A monetarist would advocate ________ money supply during recessions and ________ money supply during periods of high inflation.
A. increasing; increasing B. increasing; decreasing C. decreasing; increasing D. none of the above