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Author Question: Which of the following is (are) true of a monopoly? (i) A monopoly has the ability to set its price. ... (Read 58 times)

a0266361136

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on: Jun 30, 2018
Which of the following is (are) true of a monopoly? (i) A monopoly has the ability to set its price. (ii) A monopolists marginal revenue will always increase when it lowers the price of its product. (iii) A monopoly can never experience an economic loss.
 a. (i) only
 b. (ii) only
 c. (i) and (ii) only
 d. (ii) and (iii) only

Question 2

Which of the following is true of a tariff?
 a. It is a tax levied by the government on domestic production of goods and services.
  b. It is a quantitative restriction on imports imposed by the government.
  c. It is a monetary benefit received by exporters from the government.
  d. It is a monetary benefit received by importers from the government.
  e. It is a tax on import and export levied by the government.


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mcinincha279

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


a0266361136

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

alexanderhamilton

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

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