There are hundreds of companies in the business of providing natural gas to residential users. For the most part, these local gas companies each only serve their local community, so they buy in very competitive markets but sell locally and without competitors. The retail market is therefore likely to be
A. perfect competition.
B. oligopoly.
C. monopolistic competition.
D. monopoly.
Answer: D
You might also like to view...
The above figure shows the situations of a monopolistic competitor in the short run. To maximize profits, the firm should produce
A) 10,000 units. B) 12,000 units. C) 13,000 unit. D) somewhere between 10,000 and 12,000 units.
Someone is considered to exhibit risk-seeking behavior if he:
A. will always choose the riskier venture when given two choices. B. will only participate in high-risk situations. C. has a high willingness to take on situations with risk. D. has a low willingness to take on situations with risk.
In the early 2000s, Fannie Mae and Freddie Mac came under political pressure to buy nontraditional loans
Indicate whether the statement is true or false
If Barbecue Bob has a right to own and use his backyard barbecue, then Barbecue Bob also enjoys
A) a right to pollute. B) a right to steal. C) a right to free charcoal. D) a right to clean air.