All of the following are reasons for an oligopoly to occur EXCEPT
A) economies to scale.
B) barriers to entry.
C) independence among firms.
D) merger.
Answer: C
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What makes the demand for some goods elastic and the demand for other goods inelastic?
What will be an ideal response?
Which professional sports league has utilized a G-3 loan program to finance its stadiums?
a. MLB b. NFL c. NBA d. NHL e. English Premier League
A hailstorm kills all of the wheat in Minnesota. What will happen to the price and quantity of wheat sold in the U.S.?
A. Equilibrium price falls, equilibrium quantity falls. B. Equilibrium price rises, equilibrium quantity falls. C. Equilibrium price rises, equilibrium quantity rises. D. Equilibrium price falls, equilibrium quantity increases.
Transfer payments include all of the following except
A. Social Security benefits for retirees. B. A church-run thrift store for the poor. C. Federal crop assistance for farmers. D. Government-subsidized loans for students.