Which of the following is an example of a situation that would create an oligopoly?
a. Boron InfoTech installs fiber optic cables throughout the community so that adding new customers incurs very little marginal cost.
b. Aaron Super-sports has patented a super-grip glove that can be used for hiking
c. AquaHuman Mineral Water can only produce two-fifths of the market demand at the minimum point of the average total cost curve.
d. Finch Brothers, a publishing house, holds the copyright for a popular superhero trilogy.
c
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If the Bank of Japan buys yen to prevent the yen from appreciating,
a. it is probably also trying to profit from that operation b. it is probably also trying to maintain an interest rate target c. it is engaging in bilateral arbitrage d. it is engaging in a managed float e. it is wasting its time and effort
What will be the outcome of a government law requiring employers with more than 100 employees to incur additional employee-related costs?
a. raise the cyclical rate of unemployment b. lower the cyclical rate of unemployment c. raise the natural rate of unemployment d. lower the natural rate of unemployment
A cost that is unavoidable regardless of the actions of a decision maker is called
A. a sunk cost. B. a marginal cost. C. an opportunity cost. D. an incremental cost.
Considering primarily the effects through the price level, interest rates, and income, expansionary fiscal policy:
A. reduces both the supply and demand for dollars. B. increases the supply of dollars but reduces the demand. C. increases both the supply and demand for dollars. D. reduces the supply of dollars and increases the demand.