In which one of the following market models is X-inefficiency least likely to be present?
A. Pure competition.
B. Oligopoly.
C. Monopolistic competition.
D. Pure monopoly.
Answer: A
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The average-cost pricing policy provides a greater incentive for a regulated monopolist to reduce its production costs.
Answer the following statement true (T) or false (F)
When economists say that a good is nonrival in consumption, they mean that:
A. no one wants the good. B. everyone wants the good. C. the good is widely available. D. more than one person can enjoy the good at the same time.
What is yield management? How is yield management being used in the airline industry?
What will be an ideal response?
Which of the following is the category to which the largest portion of households' personal income is allocated?
a. taxes collected by government b. savings c. purchases of services d. purchases of durable goods e. purchases of nondurable goods