Price discrimination is possible in which of the following market structures?
a. perfect competition
b. monopoly
c. oligopoly
d. monopolistic competition
A) a, b, c, and d B) c and d only C) b and c only D) b, c, and d only
D
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If net exports decrease by $20 billion and the economy's MPC is .5, the aggregate demand curve will shift ________.
A. rightward by $20 billion at each price level B. rightward by $40 billion at each price level C. leftward by $40 billion at each price level D. leftward by $20 billion at each price level
The production possibilities frontier has a:
a. curved shape. b. straight shape. c. U shape. d. frequency shape.
Which would best describe an oligopolized industry?
A. An industry dominated by two or three large firms B. An industry dominated by one large firm C. An industry with a very low concentration ratio D. An industry with many firms
Maximum Feasible Hourly Production Rates for EitherFood or Cloth Using All Available Resources
Using the data in the above table, and assuming constant opportunity costs, it is likely that
A. Mexico will export cloth. B. the United States will import food. C. the United States will export both cloth and food. D. Mexico will export both cloth and food.