The competition faced by firms in an oligopoly with differentiated products is higher than that faced by firm(s) in ________
A) a duopoly with homogeneous products
B) perfect competition
C) monopolistic competition
D) monopoly
D
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If the economy is in an equilibrium with real GDP less than potential GDP, a fiscal stimulus could move the economy toward potential GDP by simultaneously ________ taxes and ________ government expenditures on goods and services
A) raising; increasing B) raising; decreasing C) cutting; increasing D) cutting; decreasing E) raising; not changing
Mixed bundling is
a. Where customers pay for each item separately b. Where customers buy all item in a store at one price c. Where customers have a choice of buying each item separately or all items at one price d. Where customers are charged one fixed fee and a cost per unit for every unit bought
If the demand effect dominates during a currency depreciation, then
a. real GDP should fall. b. real GDP should increase. c. the price level should fall. d. net exports should decrease.
In a price-taker market, profits are
a. the result of consumers being charged arbitrarily high prices. b. a reward for creating value. c. the result of barriers to entry into the market. d. a signal that fewer resources are needed in a market.