Products ________ in the oligopolistic market structure.
A. are always homogeneous
B. are always unique
C. may be homogeneous or differentiated
D. are always differentiated
Answer: C
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The interest rate is determined purely by market forces, and not by government involvement.
Answer the following statement true (T) or false (F)
The airline industry is best classified? as:
A) an oligopoly.
B) a monopoly.
C) perfectly competitive.
D) monopolistically competitive
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is TRUE?
A. April has a comparative advantage in painting kites but not snowboards. B. April has a comparative advantage in painting snowboards but not kites. C. April has a comparative advantage in painting both goods. D. April does not have a comparative advantage in painting either good.
Sulfur Dioxide Discharged (Tons)Firm AFirm B10$10,000$12,000911,00017,000813,00022,000716,00026,000620,00033,000Table 16.4Table 16.4 shows the production cost for two utilities at different levels of sulfur dioxide emissions. Assume that the government issued 8 marketable pollution permits to each firm. If Firm A contemplates selling one permit to Firm B, what is Firm A's willingness to accept?
A. $2,000 B. $3,000 C. $4,000 D. $5,000