The consumer Wi-Fi-service-service providers' market is best described as a
A. monopoly.
B. monopolistic competition.
C. oligopoly.
D. perfectly competitive market.
Answer: C
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The income-expenditure model assumes that the aggregate supply curve is horizontal at a given price level
Indicate whether the statement is true or false
Gerald spends his weekly income on gin and cocktail olives. The price of gin has risen from $7 to $9 per bottle, the price of cocktail olives has fallen from $6 to $5 per jar, and Gerald's income has stayed fixed at $46 per week. Since the price changes, Gerald has been buying 4 bottles of gin and 2 jars of cocktail olives per week. At the original prices, 4 bottles of gin and 2 jars of cocktail
olives would have a. exactly exhausted his income. b. cost more than his income. c. cost less than his income. d. could have maximized his satisfaction given his budget constraint.
Suppose that you have wheat in storage and that the price of wheat is currently $5.00 per bushel. You can sell your wheat immediately but you also have an opportunity to sell in six months. At that time, you believe the price of wheat will be $5.60 per bushel. Your cost of storage is $0.75 per bushel for six months. One dollar in six months is worth one dollar today (no discounting). What strategy is profit maximizing?
A. Hold onto your wheat and sell in six months. B. Sell your wheat today. C. Minimize your losses by exiting the wheat market. D. Expand production to sell more wheat.
The balance sheet of a bank shows its
A. profits and losses. B. assets and liabilities. C. revenues and costs. D. earnings and expenses.