One way in which monopolistic competition differs from oligopoly is that
a. there are no barriers to entry in oligopolies.
b. in oligopoly markets there are only a few sellers.
c. all firms in an oligopoly eventually earn zero economic profits.
d. strategic interactions between firms are rare in oligopolies.
b
You might also like to view...
The following table provides data for an economy in a certain year.Consumption expenditures50Imports40Government purchases of goods and services20Construction of new homes and apartments30Sales of existing homes and apartments40Exports50Government payments to retirees10Household purchases of durable goods20Beginning-of-year inventory10End-of-year inventory20Business fixed investment30Given the data in the table, compute the government purchases component of GDP.
A. 20 B. 30 C. 10 D. 40
Eco Energy is a monopolistically competitive producer of a sports beverage called Power On. Table 13-2 shows the firm's demand and cost schedules. Refer to Table 13-2. What is the marginal profit from producing and selling the 5th case?
A. $10 B. $20 C. $30 D. $40
The marginal propensity to consume is defined as:
A) ?C/?Yd. B) ?S/?Yd. C) ?Yd/?C. D) ?Yd/?S.
In terms of GDP, which of the following is an example of a final good?
a. rubber used to make automobile tires b. a tomato ready to be sold at a farmer’ s market c. tungsten mined to Utah d. oil drilled in the Gulf of Mexico