The market structure in which there is a single supplier of a good or service for which there is no close substitute is
A) a price searcher.
B) a monopoly.
C) a price taker.
D) perfect competition.
Answer: B
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What happens in a monopolistically competitive market with the entry of new firms?
What will be an ideal response?
Which statement best describes the current account balance in the short run?
A) Monetary expansion lowers the current account balance. B) Monetary expansion keeps the current account balance the same. C) Fiscal expansion increases the current account balance. D) Fiscal expansion keeps the current account balance the same. E) Monetary expansion increases the current account balance.
Economic development encompasses which of the following measures?
a. Economic growth. b. The political environment. c. Education. d. All of these.
You have noticed that there is an increase in the number of homeless people in your city. At the same time you observe that there are also a number of vacant apartments. You believe that the government could reduce the number of homeless people if landlords were required to rent their apartments for less than they are currently charging. This policy recommendation would be motivated by concerns over
A. equity. B. stability. C. efficiency. D. economic growth.