Since only a few firms dominate the oligopoly market, cutthroat competition does not exist
a. True
b. False
Indicate whether the statement is true or false
False
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How does the monopolist calculate profit per unit and total profit?
What will be an ideal response?
A balance-of-trade deficit exists if
A. the dollar value of exports exceeds the dollar value of imports. B. the dollar value of imports exceeds the dollar value of exports. C. money outflows exceed money inflows. D. money inflows exceed money outflows.
The price of cookies in terms of gallons of milk per cookie is 0.6 and the price a gallon of milk in terms of pounds of butter per gallon is 1.2. What is the relative price of cookies to butter?
A) 1.39 B) 0.6 C) 0.72 D) 0.50
Which of the following would cause the short-run aggregate supply curve to shift to the left?
A) an increase in the price level B) an increase in inflation expectations C) a technological advance D) a decrease in interest rates