A narrow definition of monopoly is that a firm is a monopoly if it can ignore
A) government antitrust laws.
B) the pricing decisions of firms that produce complementary products.
C) the actions of all other firms.
D) the pricing decisions of its suppliers.
C
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Of the following, the one that appears in the current account of the balance of payments is
A) an Italian investor's purchase of IBM stock. B) income earned by U.S. subsidiaries of Barclay's Bank of London. C) a loan by a Swiss bank to an American corporation. D) a purchase of a British Treasury bond by the Fed.
If the Fed's goal is to hold income constant, an expansionary fiscal policy must be accompanied by ________ monetary policy, and the Fed must allow the interest rate to ________ significantly
A) an expansionary, rise B) an expansionary, fall C) a contractionary, rise D) a contractionary, fall
Which one of the following changes is consistent with a change in an economy's consumption function from C = $500 billion + 0.80Y to C = $700 billion + 0.80Y?
a. An increase in disposable income taxes. b. An increase in interest rates c. A decrease in permanent disposable income. d. An increase in wealth. e. An increase in savings.
Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase electric cars in great numbers. In the market for gasoline, demand shifts to the ________ and supply shifts to the ________.
A. left, right B. right, left C. right, right D. left, left