What affects the price elasticity of demand for a monopolist's product?
What will be an ideal response?
A monopolist may have imperfect substitutes for its product. The price elasticity of demand for the product is higher if the product has more of those imperfect substitutes or the better those products are as substitutes.
Economics
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A perfectly competitive firm will operate and incur an economic loss in the short run if
A) the loss is smaller than its total fixed costs. B) it knows it can recoup the loss in the long run. C) shareholders do not know about the loss. D) the loss can offset future profits.
Economics
In the foreign exchange market, what factor leads to a movement along the demand curve for dollars?
What will be an ideal response?
Economics