The market structure in which each firm has a monopoly over the product it makes, but many other firms make similar products that compete for the same customers is called
monopolistic competition.
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The General Motors Acceptance Company (GMAC) is a
A) sales finance company. B) consumer finance company. C) business finance company. D) public finance company.
The Lerner index measures
A) a firm's potential monopoly power. B) the amount of monopoly power a firm chooses to exercises when maximizing profits. C) a firm's potential profitability. D) an industry's potential market power.
In the short run, the profit maximizing (or minimizing) quantity of output for any firm to produce exists at that output level at which marginal revenue equals marginal cost
a. True b. False Indicate whether the statement is true or false
What do we call financial institutions through which savers can indirectly provide funds to borrowers?
a. stock markets b. financial institutions c. financial markets d. financial intermediaries