Correct Answer: D) demand for the firm

Explanation

This question is about monopoly markets. The question is asking which statement is true about monopoly markets from the given options.

Option A states that barrier to entry exists in the short run, but not in the long run. This is not true because in a monopoly market, barriers to entry exist in both the short and long run. These barriers can include patents, control of scarce resources, or economies of scale.

Option B states that the price is greater than marginal revenue but less than marginal cost. This is also not true because in a monopoly market, the price is set where marginal revenue equals marginal cost.

Option C states that demand is more elastic than the demand for a perfectly competitive firm's output. This is also not true because in a monopoly market, demand is less elastic than the demand for a perfectly competitive firm's output.

Option D, which is the correct answer, states that the demand for the firm's product is also the market demand for the product. This is true because in a monopoly market, there is only one firm that produces the product, so the demand for that firm's product is also the market demand for the product.

In summary, the correct answer to the question is option D, which states that the demand for the firm's product is also the market demand for the product. To learn more about monopoly markets and related topics, please read the relevant sections of the recommended textbooks.

Correct Answer: D. public company

Correct Answer: C. average cost curve at its lowest point

Explanation

(a) Labour force may be defined as the proportion of the total population of a country who are currently employed or are actively seeking employment.

(b)(i) Occupational mobility of labour is the ease with which labour moves from one job to another e.g. banking to teaching.

(ii) Geographical mobility is the ease with which labour moves from one location to another e.g. A teacher moving from Banjul to Monrovia

(c)(i) If the official school-leaving age is reduced, the size of the labour force will increase.

(ii) If the age of retirement is extended from say 60 years to 65 years, the size of the labour force will increase.

(iii) Ceteris paribus, a country with larger population will have a large labour force, while one with smaller population will have a small labour force.

(iv) Where a large proportion of the population is willing to work, the labour force will be large.

(v) If more women are full-time housewives, the size of the labour force will reduce.

(vi) If a large proportion of the working group is sick and disabled, the size of the labour force will reduce.

(vii) If more people decide to pursue higher education, the labour force will be reduced.

(viii)If people voluntarily retire, the size of the labour force will reduce.

(ix) If the age structure of population changes in favour of the working population, the labour force will increase.

Correct Answer: D. lending out money from customers deposits

Correct Answer: B. demand falls as output rises

Correct Answer: A. provide basic amenities for the people

Correct Answer: B. per capital income

Explanation

The extent to which a country has developed is majorly indicated by the country's level of per capita income. Per capita income is a measure of the amount of income earned per person in a nation or geographic region. The higher the per capita income, the higher the standard of living.

Correct Answer: A. an increase in consumer's income

Correct Answer: C. relative elasticities of demand and supply of imports and exports