All of the following are possible characteristics of a monopoly except:
A) there is a single firm.
B) the firm is a price taker.
C) the firm produces a unique product.
D) the existence of some advertising.
B
You might also like to view...
The Federal Trade Commission (FTC) Act
A) prohibited charging buyers different prices if the result would reduce competition. B) gave the FTC full power to regulate mergers. C) closed the loopholes in the Sherman and Clayton Acts. D) divided authority to police mergers between the FTC and the Department of Justice.
A liquidity trap occurs when the
a. LM curve is steep. b. LM curve is vertical. c. LM curve is relatively flat. d. IS curve is flat.
If a country's Lorenz curve moves further away from the diagonal, its income is more unevenly distributed
Indicate whether the statement is true or false
Overfishing in the ocean often
a. is easily solved by shortening the fishing season. b. is not caused by better technologies, which today's fishers would not use if they harmed the resource. c. occurs only when regulators fail to regulate due to corruption. d. is caused by many boats racing to catch more fish in a very short season.