題目:Under which of the following conditions would the interdiction of illegal drugs result in a decrease in the quantity of drugs sold and in a decrease in total spending on illegal drugs by drug users? 答案:The price elasticity of demand for illegal drugs is 1.3
題目:Suppose there are only two firms supplying in the market and they produce a homogeneous good. Two firms produce the good with the same constant marginal cost. Firms compete by setting price simultaneously . The equilibrium price of both firms must 答案:equal to the marginal cost.
【題目】: Which of the following statements is true? Oligopolists : Will consider the potential response of its rivals when making business decisions. all of the above. tend to produce the monopoly output and sell at the monopoly price when they are able t ...
【題目】 Suppose A, B and C are three points on a linear demand as in the figure below. The comparison of price elasticities is A B C. A B C. A = B = C. A B and B C. 答案 : A B C.
題目:Suppose the demand for gourmet coffee can be represented by a linear demand curve. When income rises cause the demand curve for gourmet coffee shift to the right parallelly: 答案:becomes less elastic at the price that prevailed before the change in income