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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 53 times)

jeatrice

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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


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owenfalvey

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

e


jeatrice

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

amcvicar

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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