Firms in an oligopoly market tend to have strategies that are ____ and ____ economic profits.
a. Independent of one another; earn guaranteed
b. Independent of one another; are not guraranteed
c. Interdependent with one another; earn guaranteed
d. Interdependent with one another; are not guraranteed
d
You might also like to view...
According to this Application, the recession of 1929 was primarily due to
A) an increase in aggregate supply resulting from European bank collapses. B) a decrease in aggregate supply due to rising gold prices. C) a decrease in aggregate demand resulting from decreases in government spending. D) a decrease in aggregate demand caused by the private sector.
Purchasing power parity does not hold in the short to medium run because
A) exports don't equal imports. B) exchange rates fluctuate too much. C) most business cycles are caused by shocks to aggregate demand. D) countries produce different goods.
Which of the following is a macroeconomic question? a. What is a firm's profit-maximizing level of output? b. How will economic growth affect unemployment? c. How will a consumer maximize his utility?
d. How will a monopolist maximize his profit?
The price tag on a tennis ball in 1975 read $0.10, and the price tag on a tennis ball in 2005 read $1.00 . The CPI in 1975 was 52.3, and the CPI in 2005 was 191.3 . In 1975 dollars, a 1975 tennis ball cost $0.10 and a 2005 tennis ball cost
a. $0.27, so tennis balls were cheaper in 1975. b. $0.27, so tennis balls were cheaper in 2005. c. $3.66, so tennis balls were cheaper in 1975. d. $3.66, so tennis balls were cheaper in 2005.