A noisy monopoly
A) will be regulated by the Federal Trade Commission until it reduces its noise emissions.
B) sells products under its own label for a low price, and sells the virtually identical product with the same quality under a private label for a higher price.
C) sells products under its own label for a high price, and sells the virtually identical product with the same quality under a private label for a lower price.
D) leverages the Lemon Law to sell both good and poor quality goods for the same price.
Question 2
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. Bobby's demand for snacks is
A) unit elastic.
B) elastic.
C) inelastic.
D) perfectly elastic.
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