The monopolist and the perfect competitor are similar in that
A. both operate at peak efficiency.
B. both can make a profit in the long run.
C. both types of markets have no barriers to entry.
D. both try to maximize profits.
D. both try to maximize profits.
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Smart phones are becoming less expensive as new technology reduces the cost of production. In a supply and demand model, explain the effects of the technological innovations and their effect on the quantity of smart phones
What will be an ideal response?
Compared to high-income countries, low-income countries might have an advantage in achieving higher rates of worker productivity and economic growth in the future. This is because:
a. the economic growth rate begins to diminish as capital deepening increases in high-income countries. b. the invention of new technology is subject to diminishing marginal returns in high-income countries. c. the cost of adaption to new technology is lower in low-income countries than in high-income countries. d. the marginal cost of production decreases more in low-income countries than in high-income countries.
To ensure that your salary maintains its real purchasing power from year to year, your nominal salary must be:
A. deflated. B. hyperinflated. C. indexed. D. aggregated.
Which statement best describes a difference between presidential and parliamentary democracies
A. In a presidential democracy, the head of government is a member of the legislature. In a parliamentary government, citizens directly elect the head of government. B. In a presidential democracy, citizens are able to vote for their legislators. In a parliamentary democracy, citizens are not able to vote for their legislators. c. In a parliamentary democracy, citizens vote directly for the head of government. In a presidential democracy, citizens do not vote directly for the head of government. D. In a parliamentary democracy, the executive and legislative branches are joined. In a presidential democracy, the two branches are separate.