________ characterizes the oligopoly market structure.
A. A large number of firms producing a standardized product
B. A few firms each large enough to influence market price
C. A large number of firms producing differentiated products
D. A single firm that controls the industry
Answer: B
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All of the following are considered intellectual property except
A) software. B) films. C) books. D) shares of stock.
Unemployment compensation payments
a. rise during a recession and thereby help stimulate consumption. b. rise during a recession and thereby retard consumption. c. rise during economic expansion and thereby help stimulate consumption. d. rise during economic expansion and thereby retard consumption.
One reason regulators push for higher prices in an industry is to
A. prevent excess profits in the industry. B. protect the public from excessively low prices. C. encourage usage of the good or service. D. protect against the demise of existing firms.
Marginal damages
A. must always be considered in social marginal costs. B. must not be considered in social marginal costs. C. must sometimes be considered in social marginal costs. D. have nothing to do with social marginal costs.