A perfect monopoly:
A. restricts output to maximize profits.
B. has no competition at all.
C. has complete market control.
D. All of these statements are true.
Answer: D
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Market income is
A) profit earned in factor markets. B) interest earned in factor markets. C) wages, interest, rent, and profit earned in factor markets. D) wages, interest, rent, and profit earned in factor markets plus cash payments made to households by government.
The proportion of Southern farms relying on slaves rose between 1840 and 1860 . Plus, the scale economies of slavery aggravated the chronic shortage of good Southern farmland
Indicate whether the statement is true or false
The Federal Reserve has ________ responsibility for supervising financial institutions.
a. some b. no c. full d. exclusive
Which of the following would be a liability to a bank?
A. Cash in the vault B. A loan to a new business C. A checking account of a professor D. All of these responses are correct.