The furniture industry consists of many manufacturers producing differentiated products. The market structure that best fits the furniture industry is probably

A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.


B

Economics

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Which of the following is an equilibrium condition in the ISLM model?

A) Labor demand = labor supply B) Desired investment = desired saving C) Government spending = taxation D) Money supply = income

Economics

The profit-maximizing price of the monopolist compared to the perfectly competitive industry in the above figure are, respectively

A) P1 and P3. B) P1 and P5. C) P1 and P2. D) P2 and P5.

Economics

The Sherman Antitrust Act:

a. prohibited restraint of trade. b. created the Federal Trade Commission. c. prohibited fraudulent advertising. d. regulated the railroads.

Economics

Refer to Figure 6-36. If the government places a $2 tax in the market, the buyer pays $4.


a. true

b. false

Economics