Which statement is true?
A. Many monopolistic competitors are very large firms.
B. Many monopolistic competitors practice perfect price discrimination.
C. Monopolistic competitors don't really compete.
D. None of these statements are true.
D. None of these statements are true.
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Kellogg's and General Mills are two of the dominant breakfast cereal manufactures in the U.S. Each firm can either sign or not sign an exclusive contract with an Olympian gold-medal athlete to appear on the cover of a cereal box
If both companies sign an athlete, they will each make $5 million in economic profit. If only firm signs, they earn $8 million in economic profit and the other firm incurs an economic loss of $1 million. If neither firm signs, they break even. Which of the following pairs of payoffs would NOT appear together in a square of the payoff matrix? A) $5 million; $5 million B) $0 million; $0 million C) $8 million; $5 million D) -$1 million; $8 million
The National Recovery Administration (NRA) of 1933–35 attempted to restore market competition within U.S. domestic and international markets
Indicate whether the statement is true or false
Suppose the monopolist only sold the goods separately. What price will the monopolist charge for Good 1 to maximize revenues for good 1?
a. $2,300 b. $2,800 c. $1,200 d. $1,700
In addition to keeping interest rates too low for too long, the Fed also:
A. overestimated the importance of the housing sector for the whole economy. B. kept government spending too high for too long in the years leading up to the recession. C. ran too great of a budget surplus in the years leading up to the recession. D. underestimated the impact of a decline in the housing sector on the whole economy.