Which of the following best explains why the behavior of an individual firm in an oligopoly is difficult to predict?
a. Each firm is interdependent.
b. Each firm is a perfect competitor.
c. There are a large number of firms.
d. The price follower is difficult to identify.
a. Each firm is interdependent.
You might also like to view...
Which of the following statements is CORRECT?
A) Taken together, expenditures on national defense and on income security and health programs now account for less than half of all federal government spending. B) Expenditures on national defense now account for more than twice as much federal government spending as expenditures on income security and health programs. C) Since the mid-1940s, expenditures on national defense have increased considerably as a percentage of total federal government spending. D) Since the mid-1940s, expenditures on income security and health programs have increased considerably as a percentage of total federal government spending.
Suppose total factor productivity increases. Which of the following is incorrect?
A) Households are better off. B) Consumption goes up. C) The real wage goes down. D) Output goes up.
A share of stock represents a claim on the
a. output of the firm b. firm's assets and earnings c. assets of the board of directors d. managers' incomes e. firm's future losses
Who owns the Fed?
What will be an ideal response?