An oligopolistic industry is characterized by
A. strategic behavior.
B. having no market power.
C. one dominant firm in the industry.
D. free entry and exit.
Answer: A
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If the marginal cost curve is below the average variable cost curve
A. both average total cost and average variable cost are decreasing. B. average variable cost is less than average fixed cost. C. both average total cost and average variable cost are increasing. D. average total cost is increasing but average variable cost is decreasing.
Consider the two graphs above. Suppose that technological progress is expected to reduce the future cost of capital goods. This would ________ the desired level of the capital stock, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
What is the main purpose of an interest payment? What major factors affect interest rates?
What will be an ideal response?
Low cost strategies are usually found in industries where
a. Products are not particularly differentiated b. Price competition tends to be fierce c. Both a and b d. None of the above