An oligopoly is a market in which
a. there are only a few sellers, each offering a product similar or identical to the products offered by other firms in the market.
b. firms are price takers.
c. the actions of one seller in the market have no impact on the other sellers' profits.
d. there are many price-taking firms, each offering a product similar or identical to the products offered by other firms in the market.
a
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From uncovered interest parity, we know that when the domestic currency is expected to depreciate, the domestic interest rate should be:
a. greater than the foreign interest rate. b. greater than the foreign exchange rate. c. less than the foreign interest rate. d. less than the foreign exchange rate.
Though many assets can be used as a store of value, money is a particularly attractive method to store value because:
A. it increases in value as prices rise. B. its purchasing power does not decline when prices rise. C. it is the most liquid of all assets. D. it is backed by gold.
Figure 3.6 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in quantity demanded are represented by a movement from:
A. point a to point b. B. point a to point c. C. point d to point b. D. point c to point d.
A lender of last resort can prevent the spread of financial crises
Indicate whether the statement is true or false