Monopoly producers face
A) many competitors producing the same product.
B) only a few competitors producing the same product.
C) at least one competitive producer of the same product.
D) no competitive producers of the same product.
D
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A rise in demand for restaurant meals is likely to cause which of the following in the long run?
a. economic losses for each restaurant b. a lower price for each restaurant meal c. fewer restaurants in the industry d. more restaurants in the industry e. economic profit for restaurants
A payment that is periodically adjusted in proportion to a price index such as the CPI is known as a(n)
a. unionized payment. b. indexed payment. c. scaled payment. d. inflated payment. e. adjusted payment.
The strict crowding-out argument relies on the assumption that
a. the government must raise taxes to pay for spending, and the tax increase crowds out the stimulative effect of increased spending. b. the total flow of saving is a fixed amount. c. investment is invariant to interest rates, but very dependent on aggregate spending. d. consumption will rise to absorb most of an increase in income, and investment will accordingly fall.
Which of the following is TRUE about the labor force?
A. It includes those over 16 ages old and are employed. B. It includes those over 16 ages old and are unemployed. C. Both A and B are correct. D. None of these is correct.