If any two indifference curves cross, then the principle of _____ will be violated

a. monotonicity
b. heterogeneity
c. reflexivity
d. homogeneity

a

Economics

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Suppose Clem's Chemical Company wants to increase its total revenue. If there are few substitutes for Clem's Chemicals

A) Clem should increase the price of his chemicals. B) Clem should decrease the price of his chemicals. C) the demand for chemicals is elastic. D) Clem will not be able to change the price of his chemicals.

Economics

The market for oil-change can be described as a market in which monopolistic competition prevails. This means that collusion among garages that change oil is ____________ and firms engage in _________ behavior.

a. common; cooperative b. common; uncooperative c. rare; uncooperative d. rare; cooperative

Economics