Product variety is likely to be greater in:
A. monopolistic competition than in pure competition.
B. pure competition than in monopolistic competition.
C. homogeneous oligopoly than in monopolistic competition.
D. homogeneous oligopoly than in differentiated oligopoly.
Answer: A
You might also like to view...
Suppose the average productivity of workers in Country A is equal to that of workers in Country B. If Country A has higher total efficiency units of labor than Country B, it implies that ________
A) Country B has a larger supply of workers B) Country A has a larger supply of workers C) Country B has a larger stock of capital D) Country A has a larger stock of capital
Supply-side tax cuts tend to benefit the rich because tax cuts
a. on income tend to benefit high income earners more than low income earners. b. on savings benefit high income earners who do most of the personal saving. c. for capital formation tend to benefit those with the means to accumulate capital. d. on capital gains tend to benefit those with larger financial assets. e. All of the above are correct.
Labor demand is more elastic the greater the elasticity of substitution between labor and capital because
A. a firm's technology is slow to change. B. firms always have the option of substituting capital for labor. C. the firm's output price falls when the firm produces more output. D. a firm is less willing to pay higher labor costs if it is easy for the firm to substitute capital for labor. E. workers supply more labor when their wage increases.
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $6, the price will
A. remain constant because the market is in equilibrium. B. decrease because there is an excess supply in the market. C. increase because there is an excess demand in the market. D. decrease because there is an excess demand in the market.