Have you used ketchup? Have you bought ketchup in a supermarket? Consider the characteristics of market structures and decide to which the ketchup industry belongs
a. oligopoly because it represents competition among the few
b. monopolistic competition because the demand curves for each brand is horizontal
c. perfect competition because the good is identical (ketchup is ketchup)
d. monopoly because the firm demand curve is the industry demand curve
e. monopoly because there are no good substitutes
A
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The unemployment rate for married men is usually higher than the rate for teenagers
a. True b. False Indicate whether the statement is true or false
Which of the following is not correct?
a. Welfare is a broad term that includes a variety of government programs designed to help poor people. b. Since the early 1970s, welfare benefits adjusted for inflation have increased, as has the percentage of children living with only one parent. c. Critics of welfare programs argue that they can create incentives for unmarried women to have children. d. Supporters argue that welfare doesn't cause the decline of two-parent families.
A new public playground has just been built in a town. Which action of the citizens would best demonstrate the Tragedy of the Commons?
a. Every Friday a group of parents meet there to play with their children. b. A civic group collects litter from the park once a month. c. Most residents stay at home and do not use the park. d. Many people litter and misuse the equipment, causing it to break.
The stock market showed a PE for Alibaba equal to 32. What does PE mean?
A) price-earnings ratio B) profit-earnings ratio C) perfect-earnings ratio D) price-equity ratio