Of the following, the best example of oligopoly is
A) wheat farming.
B) the restaurant industry.
C) the cigarette industry.
D) the clothing industry.
C
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The demand for factor is driven by the demand for goods and services produced by that factor of production. This phenomenon is referred to as
A) elastic demand. B) joint demand. C) inverse demand. D) derived demand.
Refer to Scenario 1-2. Using marginal analysis terminology, what is another economic term for the incremental revenue received from the sale of the last 500 cigars?
A) sales revenue B) gross earnings C) marginal revenue D) gross profit
To maximize joint profits, the members of a cartel have to determine the level of industry output by setting marginal revenue qual to the cartel's joint marginal costs of production
Indicate whether the statement is true or false
If the world real interest rate were 6% and the domestic real interest rate in Estonia was 4%, borrowers in Estonia would borrow at the rate of ________ and lenders in Estonia would lend at the rate of ________
A) 6%; 6% B) 6%; 4% C) 4%; 6% D) 4%; 4%