In which market models are firm's demand curves different from their marginal revenue curves?
a. monopoly, oligopoly, and perfect competition
b. monopoly, oligopoly, and monopolistic competition.
c. monopoly and oligopoly only.
d. monopoly only.
b
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The health care system in the United Kingdom is often referred to as ________, under which the government owns most of the hospitals and employs most of the doctors
A) a single-payer system B) a universal health insurance system C) socialized medicine D) a private health care system
A monopolistically competitive industry is in the process of moving toward long-run equilibrium. This period the product of a typical firm has more substitutes than last period. This means that
A. there was entry into the industry. B. a typical firm will produce more this period. C. a typical firm's profits will fall this period. D. both a and c E. all of the above
Refer to Figure 33-2. Starting from point B and assuming that aggregate demand is held constant, in the long run the economy is likely to experience
a) a rising price level and a rising level of output. b) a falling price level and a rising level of output. c) a rising price level and a falling level of output. d) a falling price level and a falling level of output. e) a falling price level and a rising level of unemployment.
If you transfer $1,000 from your checking account to your savings account:
A) M1 decreases by $1,000, and M2 increases by $1,000. B) M1 increases by $1,000, but M2 doesn't change. C) M1 and M2 don't change. D) M1 decreases by $1,000, but M2 doesn't change.