There is easy entry into the ________ and ________ industries.
A. oligopolistic; monopolistic
B. perfectly competitive; monopolistically competitive
C. monopolistic; perfectly competitive
D. monopolistically competitive; oligopolistic
Answer: B
You might also like to view...
If K = 3000, n = 0.015, and d = 0.082, then investment of ________ will hold (Y/N) constant
A) 291 B) 201 C) 164 D) 549
A country has output of $600 billion, consumption of $350 billion, government expenditures of $90 billion and investment of $60 billion. What is its supply of loanable funds?
a. $160 billion b. $150 billion c. $60 billion d. $30 billion
Using assumptions to make things simpler and focus attention on what really matters is like using a road map to plan a trip.
Answer the following statement true (T) or false (F)
Suppose Kenya is open to free trade in the world market for wheat. Because of Kenya’s small size, the demand for and supply of wheat in Kenya do not affect the world price. The following graph shows the domestic wheat market in Kenya. The world price of wheat is PW = $250 per ton.
On the following graph, use the green triangle (triangle symbols) to shade the area representing consumer surplus (CS) when the economy is at the free-trade equilibrium. Then, use the purple triangle (diamond symbols) to shade the area representing producer surplus (PS).
