A perfectly competitive market:
A. is dominated by one firm.
B. consists of at most five firms.
C. is made up of a large number of firms.
D. consists of only one firm.
Answer: C
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If the monetary base doubles but the ratios of currency/deposit and reserves/deposits remain the same, then:
a. The money supply doubles. b. The money supply quandrouples. c. The money supply changes by two times the money multiplier. d. The money supply remains unchanged.
In 2017, an income of $125,000 would, roughly, make a family
A. richer than 40 percent of U.S. households but poorer than 35 percent. B. richer than 50 percent of U.S. households but poorer than 25 percent. C. richer than 85 percent of U.S. households but poorer than 8 percent. D. richer than 95 percent of U.S. households but poorer than 1 percent.
If Frank has been consuming 10 tacos per week at a consumer optimum, and the price of tacos falls, how will Frank respond?
A) He will save more income. B) He will buy more of everything. C) He will buy more tacos. D) He will buy more of everything except tacos.
Which of the following would shift the FE line to the left?
A. A decrease in the future marginal productivity of capital B. An increase in labor supply C. A beneficial supply shock D. A decrease in the capital stock