A monopoly exists when
A. The government intervenes on behalf of consumers.
B. A small number of firms are the only producers of a good.
C. A large number of firms are producing a good.
D. One firm produces all the output for a particular good or service.
Answer: D
You might also like to view...
The value of total output and total income in the simple circular flow model
A) include only intermediate goods. B) are equal to each other. C) are measures of the economy's level of savings. D) are related in the sense that national income is less than national product.
The manager of a U.S. office building hires a local company owned by a recent Canadian immigrant to handle landscape maintenance. This is a form of
A) domestic outsourcing. B) vertical integration. C) international outsourcing. D) insourcing.
When the U.S. price level increases, economists predict a:
A. movement down along the aggregate demand curve. B. shift straight up of the aggregate demand curve. C. shift to the right of the aggregate demand curve. D. decrease in expenditure.
Compute the actual investment in a mutual fund carrying a front-end load of 10 percent on a sum of $10,000 invested by an individual
a. $1,000 b. $10,000 c. $11,000 d. $9,000 e. $12,000