There are fewer than half as many publishers of college textbooks in the United States now as a generation ago. Three companies alone account for almost two-thirds of the sale of new textbooks. This market situation characterized by very few sellers is
known as
A) an oligopoly.
B) perfect competition.
C) pure monopoly.
D) monopolistic competition.
Answer: A
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How does an increase in taxes affect the expenditure schedule?
a. It causes movement to the left along the schedule. b. It causes the schedule to shift upward. c. It causes movement to the right along the schedule. d. It causes the schedule to shift downward.
Which of the following is not a basic monetary policy tool used by the Fed?
A. Deposit insurance B. The reserve requirement C. The discount rate D. The sale and purchase of Treasury bonds
La Dila Corp . decided to sponsor an AIDS awareness campaign when it discovered that its rival had been sponsoring several fund-raising events for AIDS-afflicted children. This is an example of ________
A) bounded rationality B) pure altruism C) impure altruism D) consumerism
Refer to Figure 12-2. Why is the total revenue curve a ray from the origin?
A) because the firm can sell its product at a constant price B) because revenue increases at a decreasing rate C) because the firm must lower its price to sell more D) because revenue increases at an increasing rate