A monopolist is
A) a firm with the largest annual sales in a country.
B) a single supplier of a good for which there is no close substitute.
C) a large firm that makes all the other firms in the industry do what it wants.
D) a supplier of a good that everyone needs with the result that it makes large profits.
Answer: B
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The United States is called a debtor nation because
A) it has a large current account deficit and is simultaneously funded by foreign investment. B) it has a large balance of payments deficit that is used to fund the current account deficit. C) U.S. capital outflows are much greater than U.S. capital inflows. D) it has a large financial account deficit that is used to fund the current account deficit.
Which statement is most accurate about the U.S. between 1840 and1860?
a. The per capita income of free people in the West South Central was about twice the national average. b. The per capita income of free people in the entire U.S. decreased. c. The per capita income of free people in the entire U.S. increased, but increased more slowly than it did before the Revolution. d. The Northeast was the poorest part of the nation, as measured by per capita income of free people.
The United States has free trade agreements with what countries?
a. Canada and Mexico b. Canada, Mexico, Great Britain c. Canada, Israel, Jamaica, Bahamas d. Canada, Mexico, Israel
Refer to the above graph of the representative firm in monopolistic competition. Point c is the intersection of the:
A. marginal cost and average total cost curves. B. average total cost and demand curves. C. marginal cost and demand curves. D. marginal cost and marginal revenue curves.