Which of the following market structures have market power?
A) oligopoly
B) monopolistic competition
C) perfect competition
D) Both A and B.
D
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Explain how an increase in technology, which increases the productivity of labor, will affect the labor market, the production function, and aggregate output. Provide graphs to illustrate
What will be an ideal response?
The money rate of interest will be less than the real rate of interest when decision makers anticipate
a. stable prices in the future. b. falling prices in the future. c. inflation in the future. d. that the money rate of interest will decline.
If an incumbent faces an identical potential entrant with no costs of entry, the incumbent will
A) produce the Cournot duopolist level of output B) produce the Stackelberg leader level of output C) set price equal to marginal cost D) shut down
One of the most basic models of the economy is:
A. the current population survey. B. real GDP per capita. C. consumer expenditure. D. the circular flow model.