A market structure characterized by a small number of interdependent sellers is called a(n)
A) monopoly.
B) monopolistic competition.
C) monopsony.
D) oligopoly.
D
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Luigi is willing to lend Klaus $5,000 for one year at a nominal rate of interest of 7%. Both Luigi and Klaus expect the rate of inflation to be 2% in the next year. How many dollars will Klaus have to pay Luigi in one year?
A. $350 B. $5,000 C. $5,350 D. $4,650
Refer to Scenario 9.1. The Nash equilibrium occurs when Sheb places ________ sheep on the commons and Monty places ________ sheep on the commons
A) 4; 4 B) 4; 5 C) 5; 4 D) 5; 5
As of 2010, the Gini coefficient was 33.9 in India and 40.8 in the United States. We can interpret this to mean that inequality:
A. is not a problem in either country. B. is greater in the United States than in India. C. is about the same in the two countries. D. is greater in India than the United States.
How much is the concentration ratio in the fast food industry if MacDonald's has 18% of the sales; Burger King, 12%; Wendy's, 10%; Roy Rogers, 8%; White Castle, 6%; Bob's Big Boy, 4%; and four others tie with 3%?
What will be an ideal response?