How might a firm respond to a higher demand for its goods?
A. limit its production
B. raise prices
C. cut prices
D. increase advertisingWeegy:
They would b.) raise prices if the demand increased.Expert answered|Reykey|Points 10|User:
In what way does the Bill of Rights protect individuals’ freedom to engage in business activities?
A. It recognizes property rights.
B. It denies the government the ability to regulate commerce.
C. It provides free contracts.
D. It provides each industry with a competitive edge. Weegy:
A. It recognizes property rights. Expert answered|Reykey|Points 10|User:
Why does a perfectly competitive market require many buyers and sellers?
A. because products must be uniform
B. so no individual can control the price
C. so buyers and sellers are both informed
D. to maintain quality over the goodsWeegy:
B so that no individual can control the price.Expert answered|Reykey|Points 10|User:
A major characteristic of monopolistic competition is that prices will be
A. higher than in perfect competition.
B. lower than in perfect competition.
C. higher than in a true monopoly.
D. unrelated to the type of competition. Weegy:
A. higher than in perfect competition. Expert answered|Reykey|Points 10|User:
Big Road Inc., a private company, is hired to build and run a state’s entire road system. The company charges high fees to use its roads. It maintains the roads only in heavily populated areas. Which of the following describes this project?
A. positive externality
B. public good
C. market failure
D. negative externalityWeegy:
C. is correct answer, It is a monopoly, therefore market failure.Expert answered|Reykey|Points 10|User:
dvances in technology have reduced the cost of manufacturing MP3 players. If demand does not change,
A. more MP3 players will be sold at a higher price.
B. fewer MP3 players will be sold at a higher price.
C. more MP3 players will be sold at a lower price.
D. fewer MP3 players will be sold at a lower price. Weegy:
C. more MP3 players will be sold at a lower price. Expert answered|Reykey|Points 10|User:
How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market?
A. The price is higher.
B. The price is lower.
C. The prices cannot be compared.
D. The prices are the same.Weegy:
C. The prices cannot be compared.Expert answered|Reykey|Points 10|
All Categories|No Subcategories|Expert answered|Rating 0| 12/13/2012 9:25:15 PM