An industry dominated by one firm is
A. monopolistic competition
B. perfect competition
C. a monopoly
D. an oligopoly
Answer: C. a monopoly
You might also like to view...
When a bank receives deposits,
A) it must hold the entire amount as reserves in case of withdrawal. B) the Fed requires it to hold only a small percentage as reserves. C) it and it alone decides how much it will hold as reserves. D) its liabilities increase in amount but its assets do not change. E) its assets increase in amount but its liabilities do not change.
If you own a $1,000 face value bond with one year remaining to maturity and a five percent coupon rate and new bonds are paying 12 percent, what is the most you can get for your old bond?
A) $1,120 B) $1,000 C) $937.50 D) impossible to determine without additional information
Refer to Figure 13-17. What is the productively efficient output for the firm represented in the diagram?
A) Qf units B) Qg units C) Qh units D) Qj units
Unanticipated moral hazard contingencies can be reduced by
A) screening. B) long-term customer relationships. C) specialization in lending. D) credit rationing.