Pure monopoly is defined as a
A. one-firm industry.
B. market structure in which there are many substitute products.
C. market structure maintained by entry of many rival firms.
D. market structure created by special government sanctions.
Answer: A
You might also like to view...
Refer to Figure 8.4. The vertical distance AB represents A) total fixed costs. B) marginal costs. C) average fixed costs. D) average total costs.
In 2005, women received just under 50% of the degrees in law and medicine
Indicate whether the statement is true or false
Which of the following statements about Nash equilibrium is true?
a. Every finite game has more than one Nash equilibrium. b. A pair of dominant strategies in a price-fixing game is always a Nash equilibrium. c. A dominance solvable game does not have a Nash equilibrium. d. Games with an infinite number of strategies have multiple Nash equilibria.
Which of the following laws ensures that men and women who perform the same work at the same firm receive the same pay?
a. Equal Pay Act of 1963 b. Civil Rights Act of 1964 c. Civil Rights Act of 1991 d. Fair Labor Standards Act of 1938