Although the U. S. airline industry has only a relatively small number of sellers, the market is nevertheless highly competitive. The reason is that:
A) the number of buyers is very large.
B) due to fierce competition, no firm has significant control over prices.
C) due to fierce competition, no firm has significant control over the quantity supplied.
D) most airline routes are served by relatively many sellers.
B
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A supply curve shows the marginal
A) benefit consumers receive from consuming a good. B) profit businesses earn from selling a good. C) cost of producing the good. D) price paid for a good. E) benefit sellers receive from selling a good.
Assuming a market rate of interest equal to 7 percent and anticipated inflation is 2 percent, what is the real (adjusted for inflation) present value of $200 to be received one year from today?
A) $190 B) $214 C) $187 D) $210
Which of the following are taxed?
a. both corporate profits and dividends paid to stockholders b. corporate profits but not dividends paid to stockholders c. dividends paid to stockholders but not corporate profits d. neither corporate profits nor dividends paid to stock holders
Say the demand curve for cigarettes was given by Q = 164 - 0.38P. When P = 20, a further increase in the price will
A. decrease total revenue. B. leave total revenue the same. C. increase total revenue. D. we can't answer with the information given.