Which of the following would not be classified as an oligopolistic industry?
A) Defense contractors.
B) The recorded music industry.
C) The tobacco industry.
D) The women's clothing industry.
D
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All of the following are true of the labor-supply and labor-demand curves intersection except they:
A. only intersect once. B. intersect at the equilibrium wage. C. intersect at the profit-maximizing quantity for the firms in the market. D. intersect at the revenue-maximizing quantity for the firms in the market.
The main source of earning profits for banks is:
a. government securities. b. saving accounts. c. reserves. d. loans. e. checking account fees.
A person who lives in a good-climate city says, "It's expensive to live here, but at least the climate is free." In terms of a theory advanced in the textbook, this person has either forgotten or is unaware that
A) New York City is not a good-climate city and it is expensive to live there. In other words, not all good-climate cities are expensive and not all bad-climate cities are cheap. B) part of the reason it's expensive to live in the city is because of the good climate. C) good-climate cities have more outdoor entertainment entities and activities and therefore people have to pay higher taxes to support those entities and activities. D) there is a sunshine tax in most of the country - the more hours of sunshine a day, the higher the tax. E) none of the above
When the price of oysters decreases 25%, quantity demanded is unchanged. The price elasticity of demand for oysters is
A. inelastic. B. perfectly inelastic. C. elastic. D. unitary elastic.