A duopoly occurs when ________
A) there are only two producers of a particular good competing in the same market
B) there are two producers of two goods competing in an oligopoly market
C) there are numerous producers of two goods competing in a competitive market
D) the one producer of two goods sells the goods in a monopoly market
A
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The saving rate equals saving divided by:
A. income. B. wealth. C. liabilities. D. assets.
Answer the next question on the basis of the following information.TFC = Total Fixed Cost MC = Marginal CostTVC = Total Variable Cost Q = Quantity of Output P = Product Price Select the marginal cost.
A. 
B. 
C. 
D. 
A summary of a country's economic transactions with foreign residents and governments is called the
A) current account balance. B) capital account balance. C) balance of trade. D) balance of payments.
Comparative advantage is the ability to produce:
A. more of a good than others with a given amount of resources. B. relatively more than any other good with a given amount of resources. C. a good or service at a lower opportunity cost than others. D. more of a good at a lower cost.