A market structure in which only one seller of a product exists is known as
a. a monopoly.
b. monopolistic competition.
c. an oligopoly.
d. perfect competition.
a. a monopoly.
You might also like to view...
Natural monopolies have U-shaped cost curves.
A. True B. False C. Uncertain
The most significant expansion of Medicaid since its inception occurred in 1997 and is referred to as
a. SCHIP. b. SHIP. c. TANF. d. AFDC.
If the spending multiplier is greater than 1.0, a $200 billion increase in autonomous investment will cause: a. equilibrium investment to increase by less than $200 billion
b. equilibrium investment to decrease by more than $200 billion. c. equilibrium real GDP demanded to increase by more than $200 billion. d. equilibrium real GDP demanded to decrease by less than $200 billion. e. equilibrium saving to decrease by more than $200 billion.
Which of the following is the best definition of money?
a. anything generally accepted as a payment for goods or repayment of debt b. anything that is a liability of the federal government c. anything that is a liability of a commercial bank d. coins and currency in the hands of the public