The college textbooks market is an example of
A. perfect competition.
B. oligopoly.
C. monopoly.
D. monopolistic competition.
Answer: B
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From any point within the production possibilities frontier,
A) the only way to increase production of one good is to decrease production of the other. B) it is possible to increase both people's utility. C) it is possible to increase output of both goods. D) any move will necessarily decrease production of some good.
Google gained its monopoly power in the market for internet-search service because it:
A. Is a licensed natural monopoly B. Was first to market and gained consumer loyalty C. Took over the market from older firms through creative destruction D. Advertised its services very heavily
According to Classical interest rate theory, rising interest rates will
A) increase the demand for money. B) decrease the demand for money. C) increase investment expenditures. D) increase the saving rate.
A corporation is legally owned by its
A. chief executive officer. B. board of directors. C. bondholders. D. stockholders.