A single supplier of a good or service for which there is no close substitute is referred to as a(n)
A) strategic competitor.
B) monopoly.
C) oligopoly.
D) monopolistic competitor.
Answer: B
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In the United States, antitrust law focuses primarily on all of the following except which one?
A) consumer welfare B) the means to monopolize a market C) furthering the social interest D) efficiency
Table 10.1 shows the cash flows and discounted cash flows for three mutually exclusive projects available to a company. Assume an interest rate of 5%. Which project should the company choose if they want to maximize their return?
A. Project A
B. Project B
C. Project C
D. It cannot be determined from the information given.
Which of the following constitutes a currency drain from the banking system?
a. Purchase of government securities b. New demand deposits c. Banks lending out all excess reserves d. A banking panic that leads to large withdrawals from banks e. Lower required reserve holdings
Breezey Cola and High-Ten Dew are both large soft drink manufacturers that cover almost the entire market for cola. At the same time, there are 45 small firms that produce pulpy fruit juice. In the given scenario, which of the following statements is true?
a. The cola industry is likely to be a monopoly, while the pulpy juice industry is likely to be monopolistically competitive. b. The cola industry is likely to be monopolistically competitive, while the pulpy juice industry is likely to be an oligopoly. c. The cola industry is likely to be an oligopoly, while the pulpy juice industry is likely to be monopolistically competitive. d. Both industries operate in an oligopolistic market structure.