The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is
A. perfect competition.
B. monopolistic competition.
C. monopoly.
D. oligopoly.
Answer: D
You might also like to view...
If two different fuel sources (e.g., coal and natural gas) are perfect substitutes in the long-run production of energy. How will a profit maximizing firm choose between these two inputs?
A) The firm will only use the input with lower cost B) The firm will use equal amounts of the two inputs, even if one of the inputs has a lower cost C) The firm will only use the input with higher cost D) The firm cannot achieve a profit maximizing level of output under these circumstances
Jaxon borrows $10,000 from a bank and withdraws $20,000 from his personal savings to open a tattoo parlor. The interest rate is 3 percent for both the bank loan and his personal savings. Jaxon also quit his job as a waiter, which paid $20,000 . According to an economist, Jaxon's opportunity cost of opening the tattoo parlor equals $20,900
a. True b. False Indicate whether the statement is true or false
Our rate of productivity growth in the 1990s was _____ compared to the rate of our productivity growth during the 1970s.
Fill in the blank(s) with the appropriate word(s).
An upward shift in the Fed's policy reaction function corresponds to a ________ the aggregate demand curve and an increase in exogenous spending corresponds to a ________ the aggregate demand curve.
A. movement up; shift right of B. shift right of; shift left of C. shift left of; movement up D. shift left of; shift right of