In which of the following market structures do you find only one seller?
A. a monopoly
B. a oligopoly
C. a monopolistic competition
D. a perfectly competitive market
Answer: A
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The rate of economic growth will be faster if
A) the rate of growth of the population is higher. B) consumption spending is greater. C) the rate of saving is higher. D) the rate of growth of the money supply is higher.
Refer to Scenario 14.4. How much will the monopsonist pay each worker?
A) 0 B) 78 C) 83 D) 92 E) 100
A high marginal tax rate reduces work incentives
Indicate whether the statement is true or false
Which of the following would result from a technological advance in a perfectly competitive market?
a. The market demand curve will shift rightward. b. Consumers will benefit as the price declines. c. Producers will benefit as long-run profits rise. d. The market supply curve will shift leftward. e. In a constant-cost industry, the price will not change in the long run.