The restaurant, legal assistance, and clothing industries are each illustrations of:
A. countervailing power.
B. homogeneous oligopoly.
C. monopolistic competition.
D. pure monopoly.
Answer: C
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If at an output of 10 units a monopolist is earning a positive profit, marginal revenue is $6, and marginal cost is $4, then the monopolist:
a. is in equilibrium. b. should increase output. c. should reduce output. d. should lower the price at the current output level. e. should raise the price at the current output level.
By the year 2035, the percentage of the U.S. population over 65 years old is expected to: a. increase substantially. b. increase minimally. c. decrease minimally
d. decrease substantially.
Briefly describe changes in life expectancy, average height, and infant mortality in the United States since 1850
What will be an ideal response?
A nation's balance of trade on goods is equal to its exports of goods less its imports of:
A. Goods B. Capital C. Financial assets D. Official reserves