The market for ice cream is a
a. monopolistic market.
b. highly competitive market.
c. highly organized market.
d. Both b and c are correct.
b
You might also like to view...
Recessions occur because of
A) difficulties in coordinating economic affairs. B) shocks to technology. C) real adverse shocks to the economy. D) all of the above.
A downturn in business confidence may cause a ________ in j, and an ________ of the true user cost of capital, both depressing investment
A) rise, overestimate B) rise, underestimate C) fall, overestimate D) fall, underestimate
Scott used $4,000,000 from his savings account that paid an annual interest of 5% and a $60,000 loan at an annual interest rate of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His economic profits is:
a. $300,000 b. $100,000 c. $97000 d. None. He runs an economic loss of $103,000
The aggregate supply curve slopes upward because firms
a. seek to maximize profits and output. b. normally can purchase inputs at fixed prices. c. employ technology, which is always fixed. d. purchase inputs whose prices rise as output rises.