A market that consists of only a few large firms is probably a(n):
A. perfectly competitive market.
B. monopolistically competitive market.
C. oligopoly.
D. monopoly.
Answer: C
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Use the above table. At an income of $150
A) real saving is $20. B) real dissaving is $50. C) real saving is $10. D) real dissaving is $10.
What is meant by the first-mover advantage? How does commitment matter in a game with a first-mover advantage? a. Some games have a first-mover advantage and others do not. Suppose you were playing rock-paper-scissors as an extensive form game
First you choose rock, or paper, or scissors and then your opponent makes a choice. Is there a first-mover advantage in this game? b. Two firms are thinking of entering a new market. If only one enters, it will make high profits. If two firms enter, then both will suffer losses. Suppose that the game is played sequentially, with Firm 1 deciding first. Does this game have a first-mover advantage?
Ceteris paribus, an increase in the government's budget deficit will decrease the financial account surplus
Indicate whether the statement is true or false
We can say that the potential level of real GDP is fixed because the long-run aggregate supply curve is a vertical line
a. True b. False Indicate whether the statement is true or false