If a monopoly discovers that the demand for its output has become more elastic at the original output level, then it will respond by
A) producing more and setting a higher price.
B) setting a lower price.
C) setting a higher price.
D) producing more while leaving price unchanged.
B
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The table below shows data for the United States
Nominal Interest Rate Inflation Rate 2013 5.25 4 2014 5 2 2015 4.5 4.3 Between 2013 and 2014, the real interest rate ________ and caused a ________ the demand for loanable funds curve. A) increased; rightward shift B) decreased; leftward C) increased; movement upward along D) decreased; downward along
In the market for used cars we have 10 sellers, willing to sell at the prices of $1000 . $2000 . $3000 . $4000 . $5000 . $6000 . $7000 . $8000 . $9000 . $10000 . What could the market price be in order to induce five sellers to offer their cars for sale?
a. $4001 b. $5001 c. $6001 d. $7001