Author Question: If a rise in the price x causes less y to be demanded: a. x and y are gross complements. b. x and ... (Read 57 times)

jeatrice · **on:** Jul 1, 2018

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