An oligopoly is a market structure in which a few large firms dominate the sale of a single product.
Answer the following statement true (T) or false (F)
True
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Everything else held constant, if aggregate output is to the ________ of the IS curve, then there is an excess ________ of goods which will cause aggregate output to rise
A) right; supply B) right; demand C) left; supply D) left; demand
People tend to eat more at all you can eat buffets than they would at any other restaurants. This is so because the cost of consuming an additional item at an all you can eat buffet is
a. negative b. zero c. positive d. None of the above
Which of the following statements about real and nominal interest rates is correct?
a. Real interest rates can be either positive or negative, but nominal interest rates must be positive. b. Real interest rates and nominal interest rates must be positive. c. Real interest rates must be positive, but nominal interest rates can be either positive or negative. d. Real interest rates and nominal interest rates can be either positive or negative.
The movement of herds according to seasonal rhythms is called:
a. transhumance b. desert nomadism c. geo-agricultural revolution d. global nomadism