All of the following are examples of oligopolistic markets except
A) seafood restaurant chains. B) the broadcasting industry.
C) college bookstores. D) aircraft manufacture.
A
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If a natural monopoly does not inflate its costs, the output it produces is the smallest when the monopoly is
A) left unregulated. B) regulated according to an average cost pricing rule. C) regulated according to a marginal cost pricing rule. D) regulated to maximize total surplus.
What is a fixed exchange rate and how is its value fixed?
What will be an ideal response?
Which of the following is most likely to occur in the labor market during a recession?
A. Bonuses and promotions become more frequent. B. The growth rate of real wages declines. C. The supply of labor increases dramatically. D. New entrants to the labor market have an easier time finding jobs.
The three largest firms in an industry have market shares of 40 percent, 30 percent, and 2 percent. The remaining 47 firms in the industry each have a market share of 1 percent. The Herfindahl-Hirschman Index (HHI) for this industry is
A) 2,551. B) 5,184. C) 24,061. D) 10,000. E) 3,013.