If the demand for a monopoly's output shifts leftward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer.
B) the monopoly is a price taker.
C) the monopoly has no supply curve.
D) the monopoly's marginal cost curve might not be upward sloping.
C
Economics
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Which of the following will increase macroeconomic equilibrium real gross domestic product?
A. a decrease in taxes B. an increase in input prices C. a decrease in government spending D. a decrease in productivity
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Using the midpoint method, if the price falls from $200 to $150, the absolute value of the price elasticity of demand is
a. 5.3. b. 2.8. c. 0.8. d. 0.36.
Economics