An industry comprised of four firms, each with about 25 percent of the total market for a product, is an example of:
A. monopolistic competition.
B. oligopoly.
C. pure monopoly.
D. pure competition.
Answer: B
You might also like to view...
What are influence costs and why do they inhibit efficient organizational design?
What will be an ideal response?
A cyclical deficit is the portion of the deficit that exists when:
A. the economy is at potential income. B. inflation is fully anticipated. C. inflation is not fully anticipated. D. the economy is below potential income.
Using the aggregate expenditure-output model, assume the aggregate expenditures (AE) line is below the 45-degree line at full-employment GDP. This vertical distance is called a(n):
A. inflationary gap. B. recessionary gap. C. negative GDP gap. D. marginal propensity to consume gap.
Public finance is the sub-discipline of economics that studies the various ways in which:
A. The general public acquire financing for their purchases B. Governments raise and expend money C. Firms in the financial sector provide services to households and firms D. Governments may regulate and promote the stability of the financial sector