Entry into a monopolistic industry is
a. easy, but exiting is difficult
b. impossible
c. difficult, but not impossible
d. difficult, but exiting is easy
e. easier than entry into oligopoly
B
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The self-interest model of government:
a. suggests that government officials are selfish. b. explains why there are limits on government taxation and spending. c. shows who some government projects take place even if the cost exceeds the benefits. d. All of the above.
What does monopolistic competition have in common with perfect competition?
A) a large number of firms and freedom of entry and exit B) a standardized product C) product differentiation D) the ability to earn an economic profit in the long run E) barriers to exit but no barriers to entry
When a polluter has to bear the full social cost of their actions, they will
A) weigh the costs and benefits of each potential action and might decide to not stop polluting by paying a fine. B) go out of business since pollution abatement is expensive. C) will always decide to reduce the amount of pollution by reducing the quantity they produce. D) increase the price of the product and the quantity produced to pay for the additional costs.
Which one of the following depicts an accurate description of the household survey and the establishment? survey?
What will be an ideal response?