If the 4 largest cell service providers sales make up 56% of total sales in the entire industry, then the industry is considered to be
A. an oligopoly.
B. perfectly competitive.
C. monopolistically competitive.
D. a monopoly.
Answer: A
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Which of the following will NOT work to increase the rate of economic growth?
A) increase saving B) limit competition from international trade C) improve the quality of education D) All of the above will work to increase the rate of economic growth.
A price discriminating monopolist having identical costs in two separated markets should charge a higher price in that market:
a. which has a higher demand. b. which has a more elastic demand. c. which has a less elastic demand. d. which has a higher marginal revenue.
M x V is:
a. A stock value. b. A flow value. c. Totally unrelated to stocks and flows. d. Equal to real GDP
Which of the following is included when measuring Gross Domestic Product (GDP)?
A. the value of leisure time B. the value of services provided by homemakers C. the value of services of durable goods purchased in previous years D. the rental income received by a landlord