The first economist to systematically analyze market failure was
A) Adam Smith. B) J. E. Meade. C) Ronald Coase. D) A. C. Pigou.
D
Economics
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The price of a smartphone increased from $250 to $400 while the price of a smartphone app increased from $1 to $2. The relative price of smartphones in terms of smartphone apps
A) increased from 175 to 350. B) decreased from 250 to 200. C) increased from 0.003 to 0.05. D) decreased from 0.35 to 0.2.
Economics
If a monopolist raises its price
A) it raises the barriers to entry. B) the quantity demanded increases. C) the quantity demanded remains the same. D) the quantity demanded decreases.
Economics