Which of the following firms is most likely to be a pure monopolist?
A. The most popular hot dog vendor on a city street corner
B. The only gas station in a small, isolated town
C. A clothing retailer with the best location in a mall
D. A grocery store in a large city
Answer: B
You might also like to view...
In the figure above, compared to a perfectly competitive industry with the same costs, a single-price, unregulated monopoly will raise the price by
A) $2.00 per unit. B) $4.00 per unit. C) $6.00 per unit. D) $8.00 per unit.
A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 20 percent, what is the level of the bank's excess reserves? How much money could the excess reserves be used to create in the banking system as a result?
a. $600,000; $600,000 b. $600,000; $3,000,000 c. $400,000; $400,000 d. $400,000; $2,000,000
What is the difference between total cost and variable cost in the long run?
What will be an ideal response?
In the market for euros, an increase in U.S. real interest rates tends to
A. cause no change in equilibrium price. B. increase equilibrium price. C. decrease equilibrium price. D. increase excess demand.