Of the following market structures, which are considered imperfectly competitive? I. Perfect competition II. Monopoly III. Monopolistic competition IV. Oligopoly
a. III only
b. II and III
c. III and IV
d. II, III, and IV
c
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As a result of the large surpluses following the Clinton Administration, what did President George W. Bush do in 2001, which reduced the surplus?
A) lowered the interest rate to stimulate spending B) increased government spending C) made substantial cuts in taxes D) raised the interest rate to reduce spending
Which of the following leads to a movement along the demand curve for spinach but does not shift the demand curve for spinach?
A) a rise in the price of spinach B) a newly discovered health benefit from eating spinach C) an increase in the price of broccoli, a substitute for spinach D) an increase in income for all spinach lovers
Suppose that the total fixed cost of producing five sailboats is $4,000 . total variable cost is $4,000 . and the total cost of producing six sailboats is $10,000 . The marginal cost of the sixth sailboat is:
a. $2,000. b. $4,000. c. $8,000. d. $10,000. e. $6,000.
The percentage of our population below the poverty line is about _____%.
Fill in the blank(s) with the appropriate word(s).