Other things being equal, which market structure is most likely to yield the greatest industry long-run economic profit?
A) monopolistic competition
B) oligopoly
C) monopoly
D) perfect competition
Answer: C
You might also like to view...
An example of an oligopoly is: a. the book industry
b. the music CD industry. c. the automobile industry. d. the market for soybeans.
A price index can fall from one year to the next: a. even when nominal GDP falls
b. even when real GDP falls. c. even when some individual good's prices rise. d. in any of the above circumstances.
The Social Security system is currently generating tax revenues that exceed the benefits paid to recipients. This surplus is
a. being invested in foreign bonds, which will provide Americans with a source of income when the baby boom generation retires. b. separated from other government revenue so politicians will not spend the money during the current period. c. being channeled into earmarked private savings accounts. d. invested in government bonds, the redemption of which will require an increase in taxes (or additional Treasury borrowing).
What documents are needed when determining the value of a business?
a. federal and state income tax returns b. complete financial statements c. planning information regarding current budgets and forecasts d. operation information e. all of these