(1)
Which of the following will be true for both monopoly and monopolistic competition in the short run ?
Answer: Price is greater than marginal revenue.
Answer: Price is greater than marginal revenue.
Answer: zero
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Answer: Output elasticity with respect to capital is α
Answer: Moral hazard
Answer: All of the above.
Answer: F. Hayek
Answer: Cost of altering price lists.
Answer: Demand for money
Answer: Market of government securities
Answer: Creating new money to finance a budget deficit
Answer: Sydney Alexander
Answer: Terms of trade of developing countries.
Answer: The current account balance shows only the balance for the trade in goods and services combined.
Answer: ex + em > 1
Answer: A fall in incomes in U.S.A.
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