Author Question: The quantity effect of a price decrease by a monopolist is based on: A) the Law of Supply. B) ... (Read 36 times)

naturalchemist · **on:** Jun 29, 2018

The quantity effect of a price decrease by a monopolist is based on:

A) the Law of Supply.
B) the Law of Demand.
C) the Law of Increasing Returns.
D) the Law of Diminishing Returns.

Question 2

If freezing weather destroys half of the current Florida orange crop, wealth will increase for

A) almost all Florida orange growers.
B) no Florida orange growers.
C) some Florida orange growers and all California orange growers.
D) some Florida orange growers and some California orange growers.