A monopolist's demand curve is less elastic than a perfect competitor's demand curve.

A monopolist's demand curve is less elastic than a perfect competitor's demand curve.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

Monopolistically competitive industries have significant barriers to entry and exit.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 3

Suppose you observe that with a given supply curve, the Peruvian demand for Argentinean pesos steadily decreases. This will most likely mean:
 a. the supply of Peruvian nuevos soles has increased on the foreign exchange market.
  b. the Argentinean peso will appreciate in value relative to the Peruvian nuevo sol.
  c. the Argentinean peso will depreciate in value relative to the Peruvian nuevo sol.
  d. the Peruvian demand for Argentinean goods has increased.
  e. the supply of Argentinean pesos has increased on the foreign exchange market.

QUESTION 4

In a mixed strategy situation, a player does best by unpredictably mixing his strategies in accordance with probabilities that depend on the strategies of the others.
  Indicate whether the statement is true or false

QUESTION 5

Monopolization is a process by which the government restricts the growth of monopoly firms.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 6

Monopolistically competitive sellers are price takers.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 7

Assume that you have just returned to the United States from a summer vacation in Russia, where you exchanged American dollars for Russian rubles. Your economic actions can be said to have:
 a. increased the supply of American dollars in Russia.
  b. decreased the supply of Russian rubles in America.
  c. decreased the supply of American dollars in Russia.
  d. increased the demand for American dollars in America.
  e. increased the supply of Russian rubles in Russia.