Monopolies, oligopolies, and monopolistic competitive industries all
A. earn positive profits in the long run.
B. are completely unconstrained in their pricing.
C. raise price and quantity over what would occur in perfect competition in order to maximize their profits.
D. have market power.
Answer: D
You might also like to view...
Refer to the information provided in Table 2.2 below to answer the following question(s).Table 2.2?MollyPeteAvatar Design68Tattoo Design32Refer to Table 2.2. For Pete, the opportunity cost of designing three tattoos is ________ avatar designs.
A. 6 B. 12 C. 24 D. an indeterminate number of
An example of an ineffective price ceiling would be the government setting the maximum price of wheat at ________ per bushel when the market price is at $5.00 per bushel.
A. $2.25 B. $3.00 C. $4.75 D. $6.00
A change in the price of a good ________ its supply curve and ________ a movement along its supply curve
A) does not shift; causes B) shifts; does not cause C) does not shift; does not cause D) shifts; causes E) None of the above because the change in the price might cause either a shift in the supply curve or a movement along the supply curve depending on the size of the change.
The value of an item expressed in today's dollars is known as
A) inflation. B) deflation. C) the nominal value. D) the real value.