People spend less money; GDP falls
Answer:
The correct answer is option E.
Explanation:
A monopoly is a market where there is only single producer or seller. There are restrictions on entry in the market. The firms in the monopoly are price makers. That is why they have a downward sloping demand curve.
There are no close substitutes for the product and there is only one seller in the monopoly.
The firm may earn profit or loss or profits in the short run based on its revenue and cost conditions.
So, all the options given are correct.
Answer:
D, Self-serving bias
Explanation:
Self-servin bias is a process of perception that is defined as a tendency to see oneself in a highly favourable manner thereby maintaining and enhancing self esteem.
Simply put, self-serving bias is a condition in which one sees himself as more than he is to ensure that his self esteem stays intact and increases.
Cheers
Because it is cheaper to manufacture shirts there
