Author Question: Arbitrage A) is the act of buying an item at a low price and reselling the item at a higher ... (Read 226 times)

Ebrown · **on:** Jun 29, 2018

Arbitrage

A) is the act of buying an item at a low price and reselling the item at a higher price.
B) is the act of selling an item on consignment and collecting a huge portion of the proceeds to compensate for the seller's time.
C) is any act of buying and selling that results in the seller earning an above normal profit.
D) is the act of buying an item at a low price, bundling it with another and selling the new package at a much higher price.

Question 2

The demand curve for a monopoly's product is

A) more inelastic than the market demand for the product.
B) more elastic than the market demand for the product.
C) undefined.
D) the market demand for the product.