If a rise in the price x causes less y to be demanded: a. x and ...

[jeatrice]

If a rise in the price x causes less y to be demanded:
 a. x and y are gross complements.
  b. x and y are gross substitutes.
  c. x and y are net complements.
  d. x and y are net substitutes.

Question 2

Which of the following is a source of market power for a monopolist?
 a. a firm may have a patent or copyright
  b. a firm may control critical resources
  c. a firm may have a government-authorized franchise
  d. a firm may enjoy economies of scale
  e. all of the above are sources of market power for a monopolist

[owenfalvey]

Answer to Question 1

a

Answer to Question 2

e

[jeatrice]

Great answer, keep it coming

[xiaomengxian]

Thanks for the timely response, appreciate it