Monopolistically competitive firms use a(n) ________ strategy to achieve market power.
A. opportunistic behavior
B. dominant
C. maximin
D. product differentiation
Answer: D
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Insurance companies do NOT cover losses that would
A) happen to all of the policyholders at once. B) happen with a very low probability. C) happen to just a handful of policyholders. D) happen with uncertainty.
Which of the following is often described as the most powerful person in the U.S. economy?
A. The president of the United States. B. The Speaker of the House of Representatives. C. The chairman of the House Ways and Means Committee. D. The chairman of the Federal Reserve.
What is government failure, and how would it be demonstrated on a production possibilities curve?
What will be an ideal response?
Positive externalities occur when an economic activity has a spillover ______ that ______ affect those directly engaged in the activity.
Fill in the blank(s) with the appropriate word(s).