Market structure describes which of the following characteristics?
a. The ease of entry into and exit from the market.
b. The similarity of the product sold.
c. The number of firms in each industry.
d. All of these are true.
d
You might also like to view...
When the Smiths were shopping for their present home, the asking price from the previous owner was $250,000.00. The Smiths had decided they would pay no more than $245,000.00 for the house
After negotiations, the Smiths actually purchased the house for $239,000.00. They, therefore, enjoyed a consumer surplus of A) $239,000.00. B) $5,000.00. C) $6,000.00. D) $11,000.00.
If it costs View Your World, a high-end window manufacturer, $30 per window to install a higher quality glass in its windows and consumers will pay an additional $28 per window for the improvement, which of the following is true?
A) View Your World should not install the higher quality glass because the marginal revenue from the quality enhancement exceeds the marginal cost. B) View Your World should install the higher quality glass because the marginal revenue from the quality enhancement is less than the marginal cost. C) View Your World should install the higher quality glass because the marginal revenue from the quality enhancement exceeds the marginal cost. D) View Your World should not install the higher quality glass because the marginal revenue from the quality enhancement is less than the marginal cost.
Poverty is considered to be more permanent in the United States than it is in other nations.
Answer the following statement true (T) or false (F)
Country A has a comparative advantage compared to Country B in the production of shoes if
A. Country A can produce shoes using fewer resources than Country B can. B. Country A can produce shoes at a lower cost in terms of other goods than Country B can. C. Country A can produce shoes at a lower monetary cost than Country B can. D. the demand for shoes is higher in Country A than in Country B.