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Author Question: When the government wants to give an exclusive right to one firm to produce a product, it A) uses ... (Read 87 times)

Capo

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When the government wants to give an exclusive right to one firm to produce a product, it
 
  A) uses antitrust laws to keep other firms from entering the market.
  B) imposes a tariff on imports of the product.
  C) imposes a quota on imports of the product.
  D) grants a patent or copyright to an individual or firm.

Question 2

Refer to Figure 10-2. When the price of ice cream cones increases from 2 to 3, quantity demanded decreases from 4 ice cream cones to 3 ice cream cones. This change in quantity demanded is due to
 
  A) the fact that marginal willingness to pay falls. B) the price and output effects.
  C) the law of diminishing marginal utility. D) the income and substitution effects.


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dlook33

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Capo

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Reply 2 on: Jun 29, 2018
:D TYSM


LegendaryAnswers

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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