If an Industry consists of two large firms, it is known as a(n)

a. monopoly
b. perfect competition
c. monopolistic competition
d. natural monopoly
e. duopoly


E

Economics

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International per capita GDP comparisons are misleading when countries involved differ greatly in

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a. True b. False Indicate whether the statement is true or false

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Suppose external benefits are present in a market which results in the actual market price of $14 and market output of 150 units. How does this outcome compare to the efficient, ideal equilibrium?

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Economics