A market with few sellers, some influence over price, high barriers to entry, a differentiated product, and non-price competition is known as
A) perfect competition.
B) monopolistic competition.
C) oligopoly.
D) monopoly.
C
You might also like to view...
Based on the figure above, when the market is unregulated and is in equilibrium, the deadweight loss is
A) $86.25 million per year. B) $56.25 million per year. C) $48.75 million per year. D) $37.50 million per year. E) zero.
Based on the Taylor Principle, a central bank's endogenous response of raising interest rates when inflation rises
A) causes an upward movement along the monetary policy curve. B) causes a downward movement along the monetary policy curve. C) shifts the monetary policy curve upward. D) shifts the monetary policy curve downward.
More bidders increase the selling price in a second-price auction because
a. the true values of the losers is higher b. the true value of the winner is higher c. bidders bid more aggressively d. bidders shade their bids by less
The above table depicts the output of a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal physical product (MPP) of the eleventh worker per week?
A. $6,000 B. $7,000 C. 90 units D. 80 units