Which type of market structure has the fewest number of firms?
monopoly
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Open market operations refer to the purchase or sale of ________ to control the money supply.
A) corporate bonds and stocks by the Federal Reserve B) U.S. Treasury securities by the Federal Reserve C) corporate bonds and stocks by the U.S. Treasury D) U.S. Treasury securities by the U.S. Treasury
Doubling the circumference of an oil pipeline more than doubles the volume of oil that can be pumped through. This is an example of
a. production inefficiency b. diminishing marginal returns c. diseconomies of scale d. constant returns to scale e. economies of scale
Refer to Figure 6.3. If the market is in equilibrium, the consumer surplus is:
A. area ABC. B. area BCD. C. zero. D. area ACD.
Other things being equal, the effect of a downward shift of the economy's net export schedule on equilibrium GDP will be similar to a(n):
A. Rightward shift in the investment-demand schedule B. Downward shift in the consumption schedule C. Upward shift in the consumption schedule D. Upward shift in the investment schedule