In an oligopoly market, there is (are) ________ seller(s)
A) one
B) a few
C) many
D) very many
B
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The table above gives the demand schedule for a good. What is the total revenue at point A? At point B? At point C? At point D? At point E?
What will be an ideal response?
Monopolistic competition is like monopoly in the sense that which of the following are the same?
a. there are many buyers and sellers b. they both face a downward sloping demand curve c. they both make long-run profits d. their products are homogeneous
When we calculate GDP, government spending on goods and services makes up approximately
A. One-fifth of total output. B. One-tenth of total output. C. One-half of total output. D. One-third of total output.
If the saving rate is 1 (i.e., s = 1), we know that
A) K/N will be at its highest level. B) Y/N will be at its highest level. C) C/N = 0. D) all of the above