When firms have market power, it means that they:
A. do not noticeably affect the market quantity offered for sale.
B. have no control over the market price.
C. can noticeably affect the market quantity available for sale.
D. can noticeably affect the market price.
Answer: D
You might also like to view...
A decrease in aggregate demand will
A) cause the short-run Phillips curve to shift to the right. B) decrease unemployment. C) move the economy to a lower point on the short-run Phillips curve. D) cause inflation.
Interest rate differentials can cause rapid fluctuations in short-run exchange rates
a. True b. False Indicate whether the statement is true or false
The primary cause of frictional unemployment is
a. the low level of the current minimum wages. b. the lack of and cost of acquiring information about available job opportunities. c. a mismatch of the skills of unemployed workers with the skills needed for job openings. d. discouraged workers who quit looking for a job after extended periods of unsuccessful job search.
Countries with more economic freedom during 1980-2009 tended to do which of the following?
What will be an ideal response?