Suppose you can get the typical cable channels (ESPN, MTV, Bravo, etc.) from a cable company, from DIRECTV, or from DISH Network. This market would be described by
A. oligopoly.
B. monopoly.
C. healthy competition.
D. perfect competition.
Answer: A
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In the classical model, an increase in the unemployment rate
A) will result in an increase in the price level if the reduction in output is caused by a change in aggregate demand. B) will likely be temporary. C) is a signal of demand-pull inflation. D) will persist when the reduction in output is caused by a reduction in aggregate demand.
The multiplier increases as the MPC increases
Indicate whether the statement is true or false
Refer to Table 4-11. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. What are the equilibrium price and quantity (in thousands) for Chef Ernie's sushi?
A) $50 and 100 thousand B) $40 and 50 thousand C) $60 and 20 thousand D) $80 and 80 thousand
For a minimum wage to have any impact on a labor market, it must be set at a level
A. Higher than the equilibrium wage. B. Higher than MPP. C. Consistent with economic growth. D. Higher than MRP.