A duopoly is a form of
A) perfect competition.
B) monopolistic competition.
C) oligopoly.
D) monopoly.
C
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Which of the following would be considered an example of monetary policy?
A. A broad government initiative to reduce the country's reliance on agriculture and promote high-technology industries. B. A decision by a developing country to reduce government control of the economy and to become more market-oriented. C. A reduction in income tax rates. D. Provision of additional cash to the banking system.
To determine the exchange rate necessary for the price of a good to be equal in two countries, ________
A) divide the higher price by the actual exchange rate B) use the actual exchange rate to convert the foreign price to its domestic-currency equivalent C) choose a good that is traded across borders D) divide the price in one currency by the price in the other currency
Which of the following statements is true of a monopolist?
a. The firm charges the highest possible price. b. The firm always earns a profit. c. The firm might earn a profit in the long run. d. The firm generates a larger consumer surplus than a perfectly competitive firm. e. The firm is more production efficient than a perfectly competitive firm.
A firm's total profit is the difference between its sales and what it pays out in costs
a. True b. False Indicate whether the statement is true or false