Monopolistically competitive markets and oligopolies are similar in that
A. the kinked demand curve can be used to analyze the firms' pricing decisions.
B. there is mutual interdependence amongst the firms.
C. nonprice competition is a tool used.
D. the number of firms is identical.
Answer: C
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Instead of studying for his calculus exam, Dicky Cribsheets decides to cheat. In the economic way of thinking, Dicky's decision is
A) inefficient and wrong. B) inefficient and desirable. C) efficient and desirable D) not necessarily any of the above.
Simple loans and discount bonds differ from coupon bonds and fixed-payment loans in that
A) interest on simple loans and discount bonds is taxable, while interest on coupon bonds and fixed-payment loans is not. B) interest on coupon bonds and fixed-payment loans is taxable, while interest on simple loans and discount bonds is not. C) interest rates on simple loans and discount bonds are generally higher than interest rates on comparable coupon bonds and fixed-payment loans. D) interest on simple loans and discount bonds is paid in a single payment, while issuers of coupon bonds and fixed-payment loans make multiple payments of interest and principal.
Along a linear or straight-line demand curve, demand is more elastic at higher prices.
Answer the following statement true (T) or false (F)
Unemployment insurance typically replaces a worker's full earnings.
Answer the following statement true (T) or false (F)