In oligopoly, one expects
a. frequent introduction of new or redesigned products.
b. aggressive advertising campaigns.
c. intense marketing research into the impact of price changes.
d. All of the above are correct.
d
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Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage is set at $5 per hour, which of the following will occur?
A) The level of unemployment will rise, but the percentage of the labor force unemployed will not change. B) The unemployment rate will fall. C) The unemployment rate will rise. D) None of the above will occur.
Refer to Figure 9.1. If the market is in equilibrium, total producer surplus is
A) $30. B) $70. C) $400. D) $800. E) $1200.
In the Case in Point on campus parking, the implication was that existing prices for parking spaces on university campuses are generally:
A) too high. B) too low. C) about right. D) unconscionable.
What advantages does monetary policy have over fiscal policy?
What will be an ideal response?