Barriers to entry into oligopoly industries can be the result of patents, ownership of key resources, large start up costs, or pronounced economies of scale
a. True
b. False
Indicate whether the statement is true or false
True
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The only variable that can affect a movement along the demand curve is
A) income levels. B) the price of the good itself. C) the number of buyers. D) the number of substitutes.
When there are ∞ degrees of freedom, the t∞ distribution
A) can no longer be calculated. B) equals the standard normal distribution. C) has a bell shape similar to that of the normal distribution, but with "fatter" tails. D) equals the distribution.
Which of the following is true if all the national debt were owned internally?
a. The federal government would not need to refinance the national debt. b. The federal government would not need to worry about raising taxes to pay interest on the national debt. c. We would still be concerned about the effect on the distribution of income from interest payments on the national debt. d. All of these are true.
Strategic decision making is most likely to occur in which market structure?
A. Oligopoly B. Monopolistic competition C. All firms engage in strategic decision making. D. Perfect competition