In many cities in the United States, a single firm provides electricity. Those firms are:
A. perfect competitors.
B. oligopolists.
C. monopolists.
D. monopolistic competitors.
Answer: C
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A negative externality such as pollution can be corrected by
A) a subsidy to producers. B) a tax on producers. C) a subsidy to consumers. D) a stimulus to production.
Patty runs a small organic peanut butter company with five employees and local sales of $100,000 per year. She estimates that the shape of her total variable cost curve largely reflects her costs of
a. peanuts b. electricity c. packaging d. labor e. marketing
With respect to their impact on aggregate demand for the U.S. economy, which of the following represents the correct ordering of the wealth effect, interest-rate effect, and exchange-rate effect from most important to least important?
a. wealth effect, exchange-rate effect, interest-rate effect b. exchange-rate effect, interest-rate effect, wealth effect c. interest-rate effect, wealth effect, exchange-rate effect d. interest-rate effect, exchange-rate effect, wealth effect
In 2009, there was an unlikely boom in British cross- Channel grocery deliveries to France due to:
a. an increase in French income. b. an increase in French preferences for British food items. c. crop failures in France due to a year-long drought. d. a dramatic weakening of the British pound against the euro over the previous 18 months.