Diamonds are expensive because:
A) very few diamonds are discovered each year.
B) the seller of most diamonds in the world restricts output.
C) they are a symbol of luxury.
D) they are a form of conspicuous consumption.
Correct Answer:
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Q1: A monopoly is a firm that:
A)is the
Q11: A monopoly:
A)is a price taker.
B)faces competition from
Q12: One barrier to entry into a monopoly
Q17: A firm that is the sole producer
Q19: Which of the following is not considered
Q21: If the monopolist charges a high price,he
Q22: A market in which a single firm
Q23: All of the following are ways a
Q24: Predatory pricing:
A) is an aggressive business move
Q25: When the monopolist decides to supply a
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