The market structure of oligopoly is when
A) there are a small number of interdependent firms that constitute the entire market.
B) there is a single producer of a product.
C) there are many producers of a differentiated product.
D) there are many producers of a homogeneous product.
A
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Which of the following events will increase the domestic real interest rate in an open economy?
A. A decrease in the domestic saving B. An increase in net capital inflow C. An increase in domestic saving D. A decrease in the perceived riskiness of investing in the domestic economy
Suppose that aggregate demand increases along the upward sloping portion of the aggregate supply curve. What is the result?
A) Real GDP increases more than nominal GDP increases. B) Nominal GDP and real GDP increase by the same amount. C) Nominal GDP increases more than real GDP increases. D) Nominal GDP and real GDP decrease by the same amount.
Sellers who were originally willing to supply 800 units of a good at $4 per unit are now willing to supply 600 units at $4 per unit. That change would be described as: a. an increase in supply
b. a decrease in supply. c. an increase in quantity supplied. d. a decrease in quantity supplied.
When the demand curve is vertical and the supply curve is upward sloping,:
a. a rise in the input price that increases marginal cost by $1, decreases the firm's profit by $1. b. a drop in the input price that lowers the marginal cost by $1, doubles the firm's profit. c. a drop in the input price that lowers the marginal cost by $1, decreases the output price by $1. d. a rise in the input price that increases the marginal cost by $1, doubles the output price.