The Law of Demand is one of the most famous laws in economics. It states that when the price of a good rises, the amount demanded ______________, and when the price of a good falls, the amount demanded ____________
A) rises, rises
B) falls, falls
C) rises, falls
D) falls, rises
Many city governments grant operating licenses to a specific cable television company. This license to be the only cable provider is called a(n)
A) monopoly.
B) oligopoly.
C) pure competition.
D) monopolistic competition.
