If substantial up-front investments in advertising campaigns become essential to a successful market entry, the market is most likely to be:
A. a perfectly competitive market.
B. a monopoly.
C. a monopolistically competitive market.
D. an oligopoly.
Answer: D
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Which of the following is NOT one of the rules for a gold standard?
A. Each country should fix the value of its currency in terms of gold. B. There should be an unrestricted flow of gold between countries. C. The central bank in each country should hold gold reserves in a direct relationship to the currency it issues. D. Capital controls should be used to conserve each country's gold holdings.
Finance companies ________
A) acquire access to funds by accepting deposits then using these monies to lend to households and firms B) raise funds by selling commercial paper then lend these funds to consumers C) acquire access to monies through the payment of premiums by employees D) are a special type of mutual fund
A common measure of inflation is the percentage change in the CPI of adjacent years
Indicate whether the statement is true or false
Which statement most accurately describes economics?
A. Economics is the study of social values a society should choose. B. Economics is the study of how people make choices to satisfy their wants. C. Economics is the study of how people make money. D. Economics is the study of how to eliminate scarcity.