Which of the following is an illustration of differentiated oligopoly?
A. The aluminum industry.
B. The steel industry.
C. The soft drink industry.
D. Retail stores in large cities.
Answer: C
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The relationship between quantity demanded and price is a(n) ________ relationship.
A. general B. inverse C. dictated D. direct
Suppose Marquette Bank and Trust has $10 million in total deposits and the required reserve ratio is 7%. How many dollars can the bank use to seek profit opportunities?
A) $9.3 million B) $7 million C) $930,000 D) $700,000 E) 0. Banks cannot seek profits.
What are the major goals that unions may pursue in labor negotiations? Are these ever in conflict with one another?
What will be an ideal response?
Why are quantity discounts an effective form of price discrimination?
a. Willingness to pay drops as more units are purchased. b. Willingness to pay increases as more units are purchased. c. Willingness to pay remain unchanged as more units are purchased. d. Willingness to pay is similar for all customer groups.