Which of the following is a characteristic of the oligopoly model?
a. The oligopoly market consists of only a small number of sellers.
b. The sellers in an oligopoly market are price takers.
c. The output decisions taken by sellers are uniform and steady.
d. There are barriers to the exit of firms in an oligopoly market.
A
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List and explain the three factors that can increase labor productivity
What will be an ideal response?
The price elasticity of demand for a good is equal to the percentage change in the price of the good divided by the percentage change in its quantity demanded
a. True b. False Indicate whether the statement is true or false
In the long run, the price in this market will be 
A. lower than P1. B. P1. C. higher than P1. D. We need more information in order to answer
If we were to pay everyone exactly the same income
A) there would be a large amount of economic growth. B) there would be no incentive to invest in human capital. C) more people would seek an education. D) productivity would increase.